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Home Industry News AstraZeneca announces new chief financial officer

AstraZeneca announces new chief financial officer

5th December 2008

AstraZeneca has named a new chief financial officer.

Covering the British company’s North American operations, Graham Baker will be replacing David Elkins – who has undertaken the same role at Becton, Dickinson and co.

Mr Elkins had worked at AstraZeneca for 13 years.

Reporting to Rich Fante, Mr Baker has served at chief financial officer for the company in Japan.

Last week, AstraZeneca said it was to divest its portfolio of over-the-counter products – which are predominantly sold in Sweden – to GlaxoSmithKline (GSK).

The deal will see the company receive $253 million (167 million pounds) for the brands, which include decongestion treatments Nezeril/Nasin, analgesics Reliv and Alvedon, Duroferon for iron deficiency and Miniform – a gastrointestinal disorder remedy.

In November, AstraZeneca said it, along with its partner Par Pharmaceuticals, is to suspend distribution of the generic version of Pulmicort.

The announcement followed the granting of a Temporary Restraining Order – which said to halt sales of the item, known as Teva’s budesonide inhalation suspension product.

Active in over 100 countries, AstraZeneca has a corporate office in London, along with major research and development sites in the UK, Sweden and the US.

The organisation employs 13,000 people and its research and development spend in 2007 totalled more than $5 billion.

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