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company_type = Public ], ] and ]: '''AZN''' | | company_type = Public ], ] and ]: '''AZN''' | | ||
company_slogan = ''Life inspiring ideas.'' | | company_slogan = ''Life inspiring ideas.'' | | ||
foundation = |
foundation = 6 April 1999 ''by merger'' | | ||
location = {{flagicon|UK}} London, United Kingdom<br/> {{flagicon|Sweden}} ], ]| | location = {{flagicon|UK}} London, United Kingdom<br/> {{flagicon|Sweden}} ], ]| | ||
key_people = ], ]<br/>David R. Brennan, ]| | key_people = ], ]<br/>David R. Brennan, ]| | ||
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net_income = $ 5.63 billion (2007)<ref name=FH/> | net_income = $ 5.63 billion (2007)<ref name=FH/> | ||
}} | }} | ||
'''AstraZeneca PLC'''<ref>Standard practice is that the name be pronounced as "Astra Zeneca" rather than "Astrazeneca"</ref> ({{lse|AZN}}, {{OMX|SSE3524|AZN}}, {{nyse|AZN}}), is a large Anglo-Swedish ] formed on |
'''AstraZeneca PLC'''<ref>Standard practice is that the name be pronounced as "Astra Zeneca" rather than "Astrazeneca"</ref> ({{lse|AZN}}, {{OMX|SSE3524|AZN}}, {{nyse|AZN}}), is a large Anglo-Swedish ] formed on 6 April 1999 by the remerger of Swedish '''Astra AB''' and British '''Zeneca Group PLC'''. Zeneca had been part of Imperial Chemical Industries, as 3 divisions that were spun off from ICI on 1 June 1993.<ref> Retrieved 2005-03-20</ref><ref> Retrieved 2005-03-20</ref> The Company is listed on the London Stock Exchange and is a constituent of the ]. | ||
== History == | == History == | ||
The company's origins go back to |
The company's origins go back to 1913 when ] was founded by 400 ] and ] in Södertälje in Sweden.<ref>{{Citation|year = 2000|date = 17 November 2000 | contribution = Organizational Portraits - AstraZeneca | contribution-url = http://pubs.acs.org/journals/pharmcent/company3.html | title = The Pharmaceutical Century: Ten Decades of Drug Discovery | place = Washington, DC | publisher = ACS Publications | url = http://pubs.acs.org/journals/pharmcent/index.html | accessdate = 2008-07-14}}</ref> In 1949 the company developed ], a local ]. In the early 1990s the company formed a joint venture with ] to market ], an ] treatment drug.<ref name="history"></ref> | ||
Meanwhile in 1993 Imperial Chemical Industries demerged its ] business, which had its origins in ''Atlas Chemical Industries'' (founded by demerger from ] in ] in |
Meanwhile in 1993 Imperial Chemical Industries demerged its ] business, which had its origins in ''Atlas Chemical Industries'' (founded by demerger from ] in ] in 1912), as well as its ] and ] businesses: ''Atlas Chemical Industries'' had in turn acquired ''Stuart Pharmaceuticals'' (founded by Arthur Hanisch in ] in 1941) in 1961 before being bought by ] in 1972. When the demerger took place in 1993 the business was renamed ''Zeneca plc''.<ref name="history"/> | ||
In 1999 ''Astra AB'' and ''Zeneca plc'' merged to form ''AstraZeneca plc''.<ref name="history"/> | In 1999 ''Astra AB'' and ''Zeneca plc'' merged to form ''AstraZeneca plc''.<ref name="history"/> | ||
In |
In 2005 the Company announced an arrangement with ] for the discovery, development and commercialisation of novel small molecule inhibitors of ] for use as ].<ref></ref> In the same year it announced a collaboration with Avanir for research and licensing in the area of Reverse Cholesterol Transport (RCT) enhancing compounds for the treatment of ].<ref></ref> It also announced an alliance with ] for research and licensing in the area of ]s (SEGRAs).<ref></ref> It also announced that it had become a Diamond Member of the Pennsylvania Bio commerce organization.<ref>{{cite web | title=Pennsylvania Bio - Member Listings | work=Pennsylvania Bio web site | url=http://www.pennsylvaniabio.org/membership/listings.asp | accessmonthday=8 October | accessyear=2005}}</ref> | ||
In 2006 AstraZeneca, following a collaborative relationship begun in 2004,<ref>{{cite press release | In 2006 AstraZeneca, following a collaborative relationship begun in 2004,<ref>{{cite press release | ||
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| work = MarketWatch from Dow Jones | publisher = PharmaWeek | | work = MarketWatch from Dow Jones | publisher = PharmaWeek | ||
| date = 2006-05-15 | accessdate = 2007-04-25 | | date = 2006-05-15 | accessdate = 2007-04-25 | ||
}}</ref> | }}</ref> | ||
Also in 2006 it formed an alliance with ] in relation to ] and ], commencing that year and extending to at least 2009.<ref></ref> | Also in 2006 it formed an alliance with ] in relation to ] and ], commencing that year and extending to at least 2009.<ref></ref> | ||
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Omeprazole is a very successful medication, but its patent protection expired in 2001. AZ, as owners of the lucrative Losec patent, sought to extend domination of the ] market with ] and consequently marketed it as the successor to the original drug. Though identical in biological action{{Fact|date=August 2007}}, the new drug could be patented, thus achieving an '''''"evergreen"''''' patent protection of the product and maintaining market share. | Omeprazole is a very successful medication, but its patent protection expired in 2001. AZ, as owners of the lucrative Losec patent, sought to extend domination of the ] market with ] and consequently marketed it as the successor to the original drug. Though identical in biological action{{Fact|date=August 2007}}, the new drug could be patented, thus achieving an '''''"evergreen"''''' patent protection of the product and maintaining market share. | ||
This practice is criticised because it involves high costs for either individual patients and public healthcare systems,<ref>Gladwell, Malcolm ( |
This practice is criticised because it involves high costs for either individual patients and public healthcare systems,<ref>Gladwell, Malcolm (25 October 2004). "". '']''.</ref> as well as potentially immoral, aggressive marketing to doctors in order to prevent them from prescribing ]. | ||
On 16th of August, 2007, ], former editor-in-chief of the ] and ] lecturer in ], alleged in the German magazine "Stern" that AstraZeneca's scientists had doctored their research on the drug's efficiency:{{Quotation|Instead of using presumably comparable doses , the company's scientists used Nexium in higher dosages. They compared 20 and 40mg Nexium with 20mg Prilosec. With the cards having been marked in that way, Nexium looked like an improvement- which however was only small and shown in only two of the three studies.}} | On 16th of August, 2007, ], former editor-in-chief of the ] and ] lecturer in ], alleged in the German magazine "Stern" that AstraZeneca's scientists had doctored their research on the drug's efficiency:{{Quotation|Instead of using presumably comparable doses , the company's scientists used Nexium in higher dosages. They compared 20 and 40mg Nexium with 20mg Prilosec. With the cards having been marked in that way, Nexium looked like an improvement- which however was only small and shown in only two of the three studies.}} | ||
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===Corporate sexual harassment=== | ===Corporate sexual harassment=== | ||
Confronted by ]s in a |
Confronted by ]s in a 13 May 1996, '']'' ], of widespread ] and other ]s, Astra USA Inc. ] three top ]s and launched an internal probe.<ref></ref> | ||
On |
On 26 June, the parent company announced that it had ] Astra USA ] and ] Lars Bildman without ]. Carl-Gustav Johansson, an Astra executive ], says the investigation found that Bildman had "exhibited inappropriate ] at company functions" and had "abused his ]." He was also accused of ] of ], diverting them for personal ] such as "lavish ]s" and "extensive ] for his home." Another suspended executive, George Roadman, was also fired, while a third, Edward Aarons, ]ed. A senior executive in Sweden, Anders Lonner, was asked to resign for failing to report the ] to ]s, Astra says. | ||
Astra USA agreed to pay $9.85 million to settle a ] brought by at least 79 women and one man against the company. The suit ] Astra's former president and other executives of pressuring female employees for ] and replacing older workers with younger, more attractive women. It was the biggest sexual harassment ] ever obtained by the United States ]. | Astra USA agreed to pay $9.85 million to settle a ] brought by at least 79 women and one man against the company. The suit ] Astra's former president and other executives of pressuring female employees for ] and replacing older workers with younger, more attractive women. It was the biggest sexual harassment ] ever obtained by the United States ]. | ||
===Bildman fraud=== | ===Bildman fraud=== | ||
On |
On 4 February 1998, Astra USA sued Bildman, seeking $15 million for ] the ].<ref></ref> The sum included $2.3 million in company funds he allegedly used to fix up three of his homes, plus money the company paid as the result of the EEOC investigation. Astra's lawsuit alleged Bildman sexually harassed and intimidated employees, used company funds for ]s and ], destroyed ]s and ]s, and concocted "tales of ] involving ex-] ]s and ]s … in a last-ditch effort to distract attention from the real wrongdoer, Bildman himself." Bildman had already ] in ] for failing to report more than $1 million in income on his ]s; in addition, several female co-workers filed personal sexual-harassment lawsuits. | ||
==Senior management== | ==Senior management== |
Revision as of 14:07, 21 November 2008
Company type | Public LSE, NYSE and OMX: AZN |
---|---|
Industry | Pharmaceutical |
Founded | 6 April 1999 by merger |
Headquarters | London, United Kingdom Södertälje, Sweden |
Key people | Louis Schweitzer, Chairman David R. Brennan, CEO |
Products | Pharmaceutical products for humans |
Revenue | $ 29.56 billion (2007) |
Operating income | $ 9.06 billion (2007) |
Net income | $ 5.63 billion (2007) |
Total assets | 61,377,000,000 United States dollar (2019) |
Number of employees | 67,000 (2007) |
Website | www.astrazeneca.com |
AstraZeneca PLC (LSE: AZN, Nasdaq Stockholm: AZN, NYSE: AZN), is a large Anglo-Swedish pharmaceutical company formed on 6 April 1999 by the remerger of Swedish Astra AB and British Zeneca Group PLC. Zeneca had been part of Imperial Chemical Industries, as 3 divisions that were spun off from ICI on 1 June 1993. The Company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
History
The company's origins go back to 1913 when Astra AB was founded by 400 doctors and apothocaries in Södertälje in Sweden. In 1949 the company developed Xylocaine, a local anesthetic. In the early 1990s the company formed a joint venture with Merck to market Losec, an ulcer treatment drug.
Meanwhile in 1993 Imperial Chemical Industries demerged its pharmaceuticals business, which had its origins in Atlas Chemical Industries (founded by demerger from DuPont in Wilmington in 1912), as well as its agrochemicals and specialties businesses: Atlas Chemical Industries had in turn acquired Stuart Pharmaceuticals (founded by Arthur Hanisch in Pasadena in 1941) in 1961 before being bought by Imperial Chemical Industries in 1972. When the demerger took place in 1993 the business was renamed Zeneca plc.
In 1999 Astra AB and Zeneca plc merged to form AstraZeneca plc.
In 2005 the Company announced an arrangement with Astex for the discovery, development and commercialisation of novel small molecule inhibitors of Protein Kinase B for use as anti-cancer agents. In the same year it announced a collaboration with Avanir for research and licensing in the area of Reverse Cholesterol Transport (RCT) enhancing compounds for the treatment of cardiovascular disease. It also announced an alliance with Schering AG for research and licensing in the area of selective glucocorticoid receptor agonists (SEGRAs). It also announced that it had become a Diamond Member of the Pennsylvania Bio commerce organization.
In 2006 AstraZeneca, following a collaborative relationship begun in 2004, acquired Cambridge Antibody Technology.
Also in 2006 it formed an alliance with Abbott Laboratories in relation to Crestor and TriCor, commencing that year and extending to at least 2009.
In 2007 it reported that it had entered into an alliance with Bristol-Myers Squibb to form a world wide collaboration to develop and commercialize two investigational drugs (saxagliptin and dapagliflozin) beginning from 2007.
Also in 2007 AstraZeneca went on to acquire MedImmune for about $15.2 billion.
Operations
AstraZeneca develops, manufactures, and sells pharmaceuticals to treat disorders in the gastrointestinal, cardiac and vascular, neurological and psychiatric, infection, respiratory, pathological inflammation and oncology areas.
The corporate headquarters are in London, England, the research and development (R&D) headquarters are in Södertälje, Sweden. Major R&D centres are located in the United States, United Kingdom, Sweden and India.
Products
AstraZeneca specialises in prescription medicines to fight disease in the several therapeutic areas. Year-on sales information can be found through AstraZeneca Annual Reports. The following is a list of key products found on the AstraZeneca website. Generic drug names are given in brackets following the brand name.
This list is incomplete; you can help by adding missing items. (August 2008) |
- Gastrointestinal
- Entocort (budesonide)
- Losec and Prilosec (omeprazole)
- Nexium (esomeprazole; S-stereoisomer of Losec)
- Cardiovascular
- Atacand (candesartan)
- Crestor (rosuvastatin; 2003 launch)
- Exanta (ximelagatran; 2004 launch; not approved in the United States)
- Imdur (isosorbide mononitrate)
- Inderal (propranolol)
- Lexxel (enalapril/felodipine ER; available only in the United States)
- Logimax (felodipine/metoprolol ER)
- Nif-Ten (nifedipine/atenolol)
- Plendil (felodipine)
- Ramace (ramipril)
- Seloken XL and Toprol-XL (metoprolol; #1 beta blocker by sales globally in 2004)
- Tenoretic (atenolol/chlortalidone)
- Tenormin (atenolol)
- Unimax (felodipine/ramipril)
- Zestoretic (lisinopril/hydrochlorothiazide)
- Zestril (lisinopril)
- Respiratory and Inflammation
- Accolate (zafirlukast)
- Bambec (bambuterol)
- Bricanyl (terbutaline)
- Oxis (formoterol)
- Pulmicort, Rhinocort (budesonide)
- Symbicort (budesonide/formoterol)
- Oncology
- Arimidex (anastrozole)
- Casodex (bicalutamide)
- Faslodex (fulvestrant)
- Iressa (gefitinib)
- Nolvadex (tamoxifen)
- Tomudex (raltitrexed)
- Tamoxifen
- Zoladex (goserelin)
- in development
- Recentin (cediranib)
- Zactima (vandetanib)
- Neuroscience
- Heminevrin (clomethiazole)
- Mysoline (primidone; handed over to Acorus Therapeutics Ltd. in July 2004)
- Seroquel (quetiapine)
- Vivalan (viloxazine)
- Zomig (zolmitriptan)
- Anaesthetics
- Carbocaine (mepivacaine)
- Citanest (prilocaine)
- Diprivan (propofol)
- EMLA (lidocaine/prilocaine)
- Marcaine and Sensorcaine (bupivacaine)
- Naropin (ropivacaine)
- Xylocaine (lidocaine)
- Xyloproct (lidocaine/hydrocortisone)
- Infection
- Apatef and Cefotan (cefotetan)
- Paludrine (proguanil)
- Foscavir (foscarnet)
- Lexinor (norfloxacin)
- Merrem and Meronem (meropenem)
Controversies
Seroquel: apparent adverse effects
AstraZeneca has stated that the anti-psychotic drug, Seroquel, is the subject of four class action lawsuits in Canada. Also, in the US, there were multiple product liability cases alleging personal injury, namely, that Seroquel caused people to develop diabetes.
The company has indicated its intention to seek approval for Seroquel to treat psychiatric conditions such as depression and general anxiety disorder.
Note as well that scientific findings regarding a new sustained release form of the drug were announced at a conference in Madrid in March 2007. At the time the data regarding the new drug were discussed, it had not been approved for sale by any health regulatory body in any country.
Late Stage Trial Failures
AstraZeneca has experienced a run of failures of drugs in late-stage clinical trials. These include Galida for diabetes, Exanta to prevent thrombosis, NXY-059 for acute ischemic stroke, Iressa for lung cancer, and AGI-1067 for prevention of atherosclerosis. With patents expiring on older drugs, this threatens future revenue growth.
MedImmune Takeover
After this long run of failed late-stage clinical trials, in April 2007 AstraZeneca bought vaccine maker MedImmune, paying $15.2 billion primarily for its drug development pipeline. Analysts have criticized this take-over, claiming that AstraZeneca paid too much.
Nexium
Nexium, the trade name for esomeprazole, is the successor to Prilosec (containing omeprazole). Commentators have taken issue with its development being an example of a company attempting to "evergreen" its drug patents. In this practice, a company might not be able to maintain a product's price and market share in the face of competition after the expiry of its patent protection, and therefore tries to find a new, patentable medication in the same field, which would ensure maximum profitability and market share for the company if marketed properly.
In this specific case, esomeprazole is a single stereoisomer of omeprazole and based upon available evidence there seems to be little difference between the two in dose-related response. To reduce side effects omeprazole is an inactive drug which only can be activated in a highly acidic environment, i.e in the gastric acid producing cells, however both stereoisomers converts to the same active drug.
Omeprazole is a very successful medication, but its patent protection expired in 2001. AZ, as owners of the lucrative Losec patent, sought to extend domination of the PPI market with Nexium and consequently marketed it as the successor to the original drug. Though identical in biological action, the new drug could be patented, thus achieving an "evergreen" patent protection of the product and maintaining market share. This practice is criticised because it involves high costs for either individual patients and public healthcare systems, as well as potentially immoral, aggressive marketing to doctors in order to prevent them from prescribing generics.
On 16th of August, 2007, Marcia Angell, former editor-in-chief of the New England Journal of Medicine and Harvard Medical School lecturer in social medicine, alleged in the German magazine "Stern" that AstraZeneca's scientists had doctored their research on the drug's efficiency:
Instead of using presumably comparable doses , the company's scientists used Nexium in higher dosages. They compared 20 and 40mg Nexium with 20mg Prilosec. With the cards having been marked in that way, Nexium looked like an improvement- which however was only small and shown in only two of the three studies.
Nexium is also alleged by the authors to be "the top of the list" of medications which are marketed by pharmaceutical companies directly to doctors, who receive gifts of money and/or goods when they prescribe the medication in question. As a reason for the company's behaviour, it is alleged that the German public healthcare system spends an additional €99 million per annum on Nexium as compared to using Omeprazole, which however would be less profitable for the company as its patent protection has expired.
Malaria drugs
Chloroquine and Paludrine were marketed with diminutive vague health warnings inside the boxes. Rather than specifying "depression", Zeneca used the term "changes in mood". Also "panic attacks and anxiety" were not mentioned, only "fits and seizures", in effect hiding information about mental effects, as it was more widely reported. As a result of these understatements, thousands of people went on holiday carrying up to 365 days dosage of these drugs, without any understanding that if they were experiencing black moods after a couple of months, the medication should be discontinued. In 1998 the University of Edinburgh department of tropical medicine conducted a study on over 100 gap year students that had been abroad. It found that 31.8% of them that had taken the antiprophylactics for over three months complained of depression compared to 12.4% of students that had taken a holiday but not taken Chloroquine or Paludrine at all. Neither Zeneca nor the NHS replied to the findings of the study. The conclusion of the study was that Chloroquine and Paludrine cause a slow and gradual depression, and that the NHS were widely prescribing double dosages of the drug without any health warnings.
Corporate sexual harassment
Confronted by allegations in a 13 May 1996, Business Week cover story, of widespread sexual harassment and other abuses, Astra USA Inc. suspended three top executives and launched an internal probe.
On 26 June, the parent company announced that it had fired Astra USA President and CEO Lars Bildman without severance pay. Carl-Gustav Johansson, an Astra executive vice-president, says the investigation found that Bildman had "exhibited inappropriate behavior at company functions" and had "abused his power." He was also accused of misappropriation of funds, diverting them for personal expenses such as "lavish trips" and "extensive renovations for his home." Another suspended executive, George Roadman, was also fired, while a third, Edward Aarons, resigned. A senior executive in Sweden, Anders Lonner, was asked to resign for failing to report the misconduct to superiors, Astra says.
Astra USA agreed to pay $9.85 million to settle a suit brought by at least 79 women and one man against the company. The suit accused Astra's former president and other executives of pressuring female employees for sex and replacing older workers with younger, more attractive women. It was the biggest sexual harassment settlement ever obtained by the United States Equal Employment Opportunity Commission.
Bildman fraud
On 4 February 1998, Astra USA sued Bildman, seeking $15 million for defrauding the company. The sum included $2.3 million in company funds he allegedly used to fix up three of his homes, plus money the company paid as the result of the EEOC investigation. Astra's lawsuit alleged Bildman sexually harassed and intimidated employees, used company funds for yachts and prostitutes, destroyed documents and records, and concocted "tales of conspiracy involving ex-KGB agents and competitors … in a last-ditch effort to distract attention from the real wrongdoer, Bildman himself." Bildman had already plead guilty in U.S. District Court for failing to report more than $1 million in income on his tax returns; in addition, several female co-workers filed personal sexual-harassment lawsuits.
Senior management
The Senior Executive Team (SET) is David Brennan, Simon Lowth, John Patterson, Tony Zook, David Mott, Bruno Angelici, Lynn Tetrault, Jan Lundberg and David Smith.
Current members of the board of directors of AstraZeneca are: Louis Schweitzer, David Brennan, Jane Henney, Marcus Wallenberg, Robert Mariusz Naruszewicz, John Patterson, Håkan Mogren, Dame Nancy Rothwell, Bo Angelin, Michele Hooper, John Varley,Fiona Paisley, John Buchanan and Jean-Philippe Courtois.
See also
References
- ^ Financial highlights
- Standard practice is that the name be pronounced as "Astra Zeneca" rather than "Astrazeneca"
- AstraZeneca - History, merger of Astra AB and Zeneca Group PLC Retrieved 2005-03-20
- AstraZeneca: Merger partners in brief Retrieved 2005-03-20
- "Organizational Portraits - AstraZeneca", The Pharmaceutical Century: Ten Decades of Drug Discovery, Washington, DC: ACS Publications, 17 November 2000, retrieved 2008-07-14
{{citation}}
: CS1 maint: date and year (link) - ^ AstraZeneca US History
- Press release, 27 July 2005
- Press release, 11 July 2005
- Press release, 27 July 2005
- "Pennsylvania Bio - Member Listings". Pennsylvania Bio web site.
{{cite web}}
: Unknown parameter|accessmonthday=
ignored (help); Unknown parameter|accessyear=
ignored (|access-date=
suggested) (help) - "AstraZeneca and Cambridge Antibody Technology announce major strategic alliance to discover and develop human antibody therapeutics in inflammatory disorders" (Press release). AstraZeneca. 22 November 2004. Retrieved 2007-04-25.
- "AstraZeneca To Acquire Cambridge Antibody for $1.3B". MarketWatch from Dow Jones. PharmaWeek. 2006-05-15. Retrieved 2007-04-25.15 May 2006 MarketWatch report
- Press release, 5 July 2006
- Press Release 11 January 2007
- "Recommended Cash Offer by AstraZeneca UK Limited for Cambridge Antibody Technology Group plc Posting of Compulsory Acquisition Notices" (Press release). AstraZeneca. 7 July 2006. Retrieved 2007-04-25.
- http://www.medimmune.com/about/history.asp#2007 MedImmune's corporate history
- AstraZeneca annual reports
- AstraZeneca UK website, retrieved 2005-03-27
- "AstraZeneca Pipeline Summary February 2008". AstraZeneca Corporate Website. Retrieved 2008-02-28.
- Seroquel Sustained Release Schizophrenia Data Presented at ECP Congress in Madrid
- AstraZeneca, struggling to develop new medicines, agrees to buy MedImmune
- Once-Promising Stroke Drug Fails in Trial
- AstraZeneca's big, risky $15 billion bet
- Gladwell, Malcolm (25 October 2004). "High Prices: How to think about prescription drugs". The New Yorker.
- Grill, Markus and Hansen, Hans (2007): "Vorsicht, Pharma! Wie die Industrie Ärzte manipuliert und Patienten täuscht." ('Caution, Pharma! How the industry manipulates physicians and deceives patients.') Published in the 16.08.2007 issue of the magazine "Stern" (Germany; pp. 100-107). Available as an e-paper here
- Business Week
- Business Week
External links
OMX Stockholm 30 companies of Sweden | |
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