AstraZeneca highlights progress of current growth strategy

AstraZeneca is providing an update on its development pipeline and outlining its strategic priorities for 2014 today (January 14th 2014).

In a presentation given by chief executive officer Pascal Soriot at the JP Morgan Healthcare Conference in San Francisco, the company is highlighting the progress it has made towards its key strategic goal of returning to growth, following recent patent expiries on key products.

It has accelerated and replenished its portfolio in its core therapeutic areas of oncology, cardiovascular/metabolic disease and respiratory, inflammation and autoimmune diseases. Its  late-stage pipeline now comprises 11 phase III programmes, almost double the total from a year ago.

Meanwhile, the recent acquisition of Bristol-Myers Squibb's interest in the companies' diabetes alliance is expected to be completed during the first quarter of 2014, allowing AstraZeneca to return to growth earlier than anticipated.

It will give AstraZeneca full rights to drugs such as Onglyza, Kombiglyze XR, Komboglyze, Forxiga, Byetta, Bydureon, metreleptin and Symlin.

A company statement said: "AstraZeneca now expects 2017 revenues to be broadly in line with 2013 revenues."