News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

AstraZeneca PLC (AZN) CEO Quits as Drug Sales Tumble; Interim CEO Named



4/26/2012 6:29:10 AM

AstraZeneca Plc (AZN) Chief Executive Officer David Brennan will retire from his post, ending a six- year tenure after repeated failures in drug development left investors skeptical of the company’s earnings prospects. Simon Lowth, the chief financial officer, will serve as interim CEO until a replacement is chosen, the London-based company said today in a statement. AstraZeneca today cut its profit forecast for the year after first-quarter revenue sank on “challenging market conditions” and the loss of patent protection on several medicines. The stock fell the most in more than two years.

Read at BusinessWeek
Read at Reuters
Read at SF Gate
Read at Washington Post
Read at Financial Times


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES