AstraZeneca highlights importance of new focused strategy

AstraZeneca's president of research and development has outlined the importance of the company's newly refocused business strategy to its future success.

Martin Mackay, who joined the company from Pfizer in 2010, told the Boston Globe that the firm has undergone major operational changes in recent months, having conducted a "root-and-branch analysis" of its research targets.

In addition to making significant amendments to its research leadership staff, AstraZeneca is seeking to adopt a quality-over-quantity approach to new drug development, according to Mr Mackay.

He noted that the firm is opting against taking the diversification route of other companies and is instead reducing the number of disease areas in which it operates.

"We've said very clearly that we want to be a pure play pharmaceutical company across the globe. We are focusing on programmes that have the best chance of becoming medicines," he explained.

This comes the week after the company completed the sale of its Astra Tech business unit to dental products manufacturer Dentsply.