AstraZeneca appoints president of research and development

AstraZeneca has selected Martin Mackay to become its first president of research and development, a position he will take up on July 1st 2010.

The executive will join the company from fellow pharmaceuticals firm Pfizer, where he has worked since 1995 and currently holds the position of head of pharmatherapeutics research and development.

In his newly-created role at AstraZeneca, Mr Mackay will take responsibility for the delivery of new products from small molecules and biologics in the company’s developmental pipeline.

David Brennan, chief executive officer at AstraZeneca, stated that Mr Mackay’s industry expertise will play a key role in helping the firm to improve the productivity of its research.

He said: “We have a clear and unambiguous commitment to creating value through innovative biopharmaceuticals with research and development at the heart of our strategy.”

Earlier this month, AstraZeneca published its financial report for the first quarter of 2010, during which the performance of key brands such as Seroquel and Symbicort helped the company to achieve year-on-year revenue and profit increases.