« A Lovely Petite Compound |
Main
| November Conference on Drug Discovery in Boston »
October 3, 2012
AstraZeneca Stops Buying Its Own Stock
Posted by Derek
So after all the talking we've done around here about stock buybacks in the pharma world, it's worth noting that the new CEO of AstraZeneca has halted their program. Naturally, that has people talking about what they're going to use the money for otherwise - that is, what company they're going to buy. But it's interesting to see a public mention of the buyback program hitting the brakes like this. . .
Comments (2)
+ TrackBacks (0) | Category: Business and Markets
POST A COMMENT
- RELATED ENTRIES
- › AstraZeneca's Move To Hot, Happening Cambridge
- › Stealing A Compound, To Set Up in China
- › Tecfidera's Price
- › Novartis Loses the Glivec Patent Fight in India
- › ChemBark Closing Down (Update: Not Really!)
- › Fake Journals - But They'd Like Real Money
- › Chemical Probes Versus Drugs
- › Two New Books
College chemistry, 1983
The 2002 Model
After 10 years of blogging. . .
1. Anonymous on October 3, 2012 9:18 PM writes...
After the aquisition, Pascal Soriot became CEO of Genentech, replacing Art Levinson. He didn't last long (WHY???) and moved back to Roche in Basel as COO. Now he's at AZ. What went wrong over at Roche. Any thoughts??
Permalink to Comment2. Kissthechemist on October 5, 2012 5:58 AM writes...
The sum total of my knowledge of financial markets can be written on a nanotube, but for me, one driving force in the recent decline in big pharma is the instability - the constant changes in direction, often after mergers and aquisitions, and its demoralising and demotivating effects on the workers at the research coal-face, those who keep their jobs, that is.
Pharma is a marathon, not a sprint, but a lot of comapnies won't play it that way (eg the brand new pole of excellence that shuts it's doors permanantly inside 5 years).
The money theme keeps coming up here recently and I'm glad, 'cos there's lots of it around in Pharma being used for things other than turning it into a pipeline. Its clear the way we do research has to evolve but the idea floated the other day by Andrew Lo and friends, for example, is starting to look like its really worth trying.
Just for once, I'd like to see a major company trying something other than stock buy backs and aquisitions to feed the pipeline. Maybe it's time has come?
Permalink to Comment