CollectionsAstrazeneca
IN THE NEWS

Astrazeneca

FEATURED ARTICLES
NEWS
February 19, 2016 | By Linda Loyd, STAFF WRITER
Drugmakers AstraZeneca in Wilmington and its biotechnology subsidiary MedImmune said Wednesday the Food and Drug Administration has granted "breakthrough therapy designation" for their human monoclonal antibody, Durvalumab, to treat patients with inoperable or metastic urothelial bladder cancer. The FDA designation is meant to expedite development of new drugs to treat a serious condition when early clinical trials showed encouraging results. Urothelial bladder cancer is the ninth most common cancer worldwide.
BUSINESS
August 30, 2012 | By David Sell, Inquirer Staff Writer
Pascal Soriot, the 53-year-old French citizen named Tuesday as the new chief executive officer of AstraZeneca, has worked in the pharmaceutical business for decades. But his experience in the last few years with Genentech and Roche AG is part of why he was hired and part of what he will need to draw upon to help British-based AstraZeneca, which has operations in Wilmington and Newark, Del. Big pharmaceutical companies in recent years have wrestled with how to replace revenue from drugs that were highly profitable when they had market exclusivity because of patent protection, but less so once patents expired and generic competition entered the market.
BUSINESS
August 29, 2013 | By David Sell, Inquirer Staff Writer
Amgen's $10.4 billion purchase of Onyx Pharmaceuticals for the sake of cancer drugs prompted much of Monday's discussion in the pharmaceutical world, but AstraZeneca was also buying medicine in that category. AstraZeneca, based in the United Kingdom with facilities in Wilmington and Newark, Del., agreed to pay $225 million up front and perhaps $275 million more for Amplimmune, a privately held biologics company that focuses on developing drugs in cancer immunology. The second (and higher)
BUSINESS
April 30, 1999 | By Andrea Ahles, INQUIRER STAFF WRITER
Offering $53 million in tax incentives, relocation expenses and property, Delaware was selected as the site of AstraZeneca's new U.S. headquarters yesterday. After reviewing several sites in Pennsylvania and Delaware, the newly merged pharmaceutical and agrochemical company chose a site at Routes 202 and 141 in Wilmington's suburbs because it is across the street from Zeneca's existing 88-acre property. "By choosing this site, it is the least disruption of ongoing business," said C. G. Johansson, president and chief executive of AstraZeneca's U.S. and North American operations.
BUSINESS
March 23, 2013 | By David Sell, Inquirer Staff Writer
The drugmaker AstraZeneca, which announced big job cuts Monday in research and development, said Thursday morning that it was would lay off 2,300 more people from sales and administrative departments over the next three years throughout its worldwide operation. AstraZeneca has facilities in Wilmington and Newark, Del. A company spokesman declined to specify the immediate local impact. The spokesman said that the majority of the 2,300 workers had been notified or soon would be, and that those people were largely in sales in Europe.
NEWS
April 30, 1999 | By Angela Galloway, INQUIRER SUBURBAN STAFF
To the disappointment of many local officials in Chester County - and to the relief of hundreds of East Goshen Township residents - AstraZeneca yesterday chose Wilmington over several local sites for its planned corporate center. "We're disappointed that they won't be staying in Chester County," County Commissioner Karen Martynick said. "They've been a good corporate neighbor, and we'd like to have kept them here. I guess the good news is they won't be leaving the region . . . and people who work there will be able to continue to live in Chester County.
NEWS
June 6, 2011
Pharmaceutical giant AstraZeneca will pay $250,000 to 124 current and former female employees of its Wayne business center to settle a pay discrimination lawsuit brought by the U.S. Department of Labor in May 2010. The suit alleged that the company, which has a $2 billion contract with the Veterans Administration, paid female sales specialists an average of $1,700 less than their male counterparts. AstraZeneca will analyze base pay of an additional 415 sales people in 13 states and the District of Columbia to determine whether other female workers are underpaid.
NEWS
June 25, 2016 | By Linda Loyd, STAFF WRITER
An advisory panel to the Centers for Disease Control and Prevention said AstraZeneca's FluMist vaccine, administered as a nasal spray and not a shot, was only 3 percent effective in protecting children ages 2 to 17 years against influenza virus. AstraZeneca, with North American headquarters in Wilmington, said it would take an $80 million inventory write-down as a result of the decision. AstraZeneca said its own studies found FluMist was 46 percent to 58 percent effective. The U.K.-based drugmaker said it would continue to sell the vaccine in other countries.
1 | 2 | 3 | 4 | 5 | Next »
ARTICLES BY DATE
NEWS
June 25, 2016 | By Linda Loyd, STAFF WRITER
An advisory panel to the Centers for Disease Control and Prevention said AstraZeneca's FluMist vaccine, administered as a nasal spray and not a shot, was only 3 percent effective in protecting children ages 2 to 17 years against influenza virus. AstraZeneca, with North American headquarters in Wilmington, said it would take an $80 million inventory write-down as a result of the decision. AstraZeneca said its own studies found FluMist was 46 percent to 58 percent effective. The U.K.-based drugmaker said it would continue to sell the vaccine in other countries.
BUSINESS
May 27, 2016 | By Linda Loyd, Staff Writer
Innocoll Holdings in Newtown Square said Wednesday that its non-opioid implant for postoperative pain relief met "statistical significance" in patients without the need for other pain medicines, such as opioids. The company's stock jumped 47.8 percent to close at $10.51 on the news, which comes at a time when regulators are pushing drug companies to come up with alternatives to opioids. Innocoll's spongelike implant to relieve pain after abdominal hernia surgery is inserted into an incision site during the operation.
BUSINESS
May 14, 2016 | By Linda Loyd, STAFF WRITER
British drug maker AstraZeneca, with North America headquarters in Wilmington, announced Thursdaythat the Food and Drug Administration has granted Orphan Drug Designation for its MEK inhibitor selumetinib for the treatment of patients with advanced thyroid cancer who fail to respond adequately to radioactive iodine. Orphan Drug status is given to drugs and biologics which treat, diagnose, or prevent rare diseases or disorders that affect fewer than 200,000 U.S. residents. One benefit of Orphan Drug status is a seven-year period of market exclusivity, if the drug is approved.
BUSINESS
April 8, 2016 | By Linda Loyd, Staff Writer
Pharmaceutical giant Pfizer and Ireland-based Allergan scrapped their merger plans Wednesday, two days after the Treasury Department announced tough new rules to thwart U.S. companies' moving their headquarters overseas to lower their taxes. The $160 billion deal would have been the biggest acquisition in drug industry history and would have created the largest pharmaceutical company in the world. The new Treasury Department rules make it harder for companies, through a merger, to move their tax addresses out of the United States and then shift profits to low-tax countries, a process called inversion.
BUSINESS
January 29, 2015 | By David Sell, Inquirer Staff Writer
Drugmaker Pfizer Inc. might grow, or break up, or some combination of both. Chief executive officer Ian Read said Tuesday that Pfizer will keep looking for companies to buy and is taking the next steps to see whether its pieces are worth more than the sum of its parts. Pfizer has said that it tried to buy AstraZeneca in 2014, and it reportedly inquired about buying Actavis and Teva Pharmaceutical Industries Ltd. AstraZeneca, Teva, and Actavis all have operations in the Philadelphia region.
BUSINESS
August 21, 2014 | By David Sell, Inquirer Staff Writer
Drugmaker AstraZeneca said Tuesday that the U.S. Justice Department had notified the British-based company that it was no longer investigating allegations of manipulation of clinical testing data for a key drug that the company hopes will eventually generate billions of dollars in revenue. The drug, Brilinta, is a blood thinner prescribed for some of those with clogged arteries in hope of avoiding heart attacks. AstraZeneca chief executive officer Pascal Soriot used the revenue possibilities from the drug to argue for declining three takeover offers from Pfizer Inc. "As one of AstraZeneca's growth platforms, we remain committed to delivering the full potential of this important medicine," Soriot said in a statement Tuesday.
BUSINESS
June 22, 2014 | By David Sell, Inquirer Staff Writer
Drugmaker Shire P.L.C., which is based in Ireland but has operations in Wayne and Exton, said Friday that its board has rejected a $46.5 billion takeover offer from AbbVie Inc. Like some other pharmaceutical companies, AbbVie wants to buy a company that would allow it to shift its official residence to Ireland and avoid the higher corporate tax rate that exists in the United States. In most cases, relatively few employees move to Ireland. AbbVie was spun off last year from Abbott Laboratories and became a separate drugmaker, while the new Abbott focused on the medical products side of the business.
BUSINESS
May 2, 2014 | By David Sell, Inquirer Staff Writer
Amid the recent swirl of pharmaceutical company takeovers and trades, GlaxoSmithKline chief executive officer Andrew Witty said Wednesday that GSK might end up with more Philadelphia-area employees if a deal with Novartis is completed. Witty said the business units joining GSK have about 10,000 people and the units going to Novartis have about 2,000 people. "On day one, there is a significant net influx of people to GSK, and therefore in most of our geographies - and the Delaware Valley, I suspect, will be no exception - there might be net benefit," Witty said during a conference call with reporters after the company released first-quarter financial results.
BUSINESS
November 2, 2013 | By David Sell, Inquirer Staff Writer
Despite an 18.4 percent drop in quarterly profit, AstraZeneca CEO Pascal Soriot said Thursday in response to a question from The Inquirer that there are no plans for more layoffs at the company's facilities in Delaware. AstraZeneca is based in London and has facilities in Wilmington and Newark. In March, the company cut 2,300 jobs from its worldwide workforce, including 1,200 from its Delaware facility. Some of the positions in Wilmington were moved to AstraZeneca's facility in Gaithersburg, Md. Reports at the time suggested AstraZeneca considered closing its Wilmington facility.
1 | 2 | 3 | 4 | 5 | Next »
|
|
|
|
|