Category Archives: AstraZeneca

Shares in European drug companies hit four-month low as Trump tariffs loom

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President repeats threat to bring in levies ‘within next week or so’ in attempt to get companies to move production to US

Shares in European pharmaceutical companies have sunk to a four-month low, after Donald Trump repeated his threats to introduce tariffs on drug imports “within the next week or so”.

Europe’s Stoxx Health Care index slid by 2.8% on Wednesday, falling to its lowest level since mid-April, shortly after the US president’s initial “liberation day” tariff announcements.

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Drugmaker AstraZeneca shifts more production to US amid Trump tariffs

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UK and rest of Europe risk losing out to US and China unless they ramp up spending on new medicines, says CEO Pascal Soriot

AstraZeneca said it was shifting the production of some medicines sold in the US from Europe to the US, to counter the impact of Donald Trump’s trade tariffs.

Speaking as the company reported higher sales and profits for the first quarter, the FTSE 100 pharma company reiterated that the UK, and the rest of Europe, risked losing out to the US and China unless they ramped up spending on new medicines. Pascal Soriot, AstraZeneca’s chief executive, warned that well-paid advanced manufacturing and research jobs could move to the US in the long run.

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AstraZeneca axes £450m vaccine plant in Liverpool, blaming state funding cut

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Days after Rachel Reeves highlighted life sciences as UK strength, firm decides against site expansion

AstraZeneca has cancelled plans for a £450m expansion of its manufacturing plant in Speke, Merseyside, blaming a cut in the funding on offer from the government.

Only two days after Rachel Reeves highlighted life sciences as a key UK strength, in a speech setting out her plans to kickstart economic growth, the company said it had decided to pull its investment.

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AstraZeneca shares tumble after reports China unit is linked to insurance fraud

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Pharmaceutical’s weight loss pill described as ‘underwhelming’, also piling pressure on share price

AstraZeneca shares tumbled on Tuesday wiping £14bn off the value of Britain’s biggest drug maker, after a report that dozens of senior executives at its China unit could be implicated in an insurance fraud case in the country’s pharmaceutical sector.

Also putting pressure on the share price, early data on AstraZeneca’s experimental weight loss pill published on Monday was described as “somewhat underwhelming” by analysts at Deutsche Bank, who reiterated their “sell” rating on the stock.

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China detains five AstraZeneca staff over ‘data privacy and import breaches’

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Detentions involve Chinese citizens who marketed cancer drugs for firm’s oncology division

Chinese police have reportedly detained five current and former AstraZeneca employees as part of an investigation into possible breaches related to data privacy and importing unlicensed medications.

The detentions took place earlier this summer, and targeted Chinese citizens who marketed cancer drugs for the oncology division of the British pharmaceutical company, according to Bloomberg.

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AstraZeneca claims Australian rules stopped it defending its vaccine during pandemic

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Company says TGA regulations prevented it from responding to incorrect claims about its vaccine in 2021

AstraZeneca has called for reforms to Australia’s rules around discussion of medicines, saying public confusion over its Covid vaccine was created because the company was restricted in explaining health warnings by the nation’s medicines regulator.

The call is contained in more than 2,000 submissions to the federal government’s inquiry into Australia’s handling of the coronavirus pandemic.

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AstraZeneca buys Chinese cancer therapy firm Gracell for $1.2bn

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Gracell Biotechnologies acquisition marks China’s growing importance to the Anglo-Swedish drugmaker

AstraZeneca has struck a deal to buy a Chinese cancer therapy company for up to $1.2bn (£950m), as Britain’s biggest drugmaker expands its footprint in its second-largest market.

The Anglo-Swedish pharmaceutical firm announced on Tuesday it would acquire Gracell Biotechnologies, which is focused on a type of cancer therapy known as CAR-T that modifies a patient’s cells to fight the disease.

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AstraZeneca considers spinning off its China business

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UK’s largest stock-market-listed firm weighs up Hong Kong or Shanghai listing to shield it from geopolitical tensions

AstraZeneca is considering spinning off its business in China and listing it in Hong Kong or Shanghai to shield the multinational drugmaker from geopolitical tensions.

Britain’s largest stock-market-listed company has drawn up the plans in attempt to protect its business from the fallout from increasing tensions between China and the US and its allies.

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UK and Europe are falling behind US and China in biotech, says AstraZeneca boss

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Pascal Soriot says decline in startups across Europe differs markedly from ‘explosion’ of firms and clinical trials in China

The boss of Britain’s biggest drugmaker has said that the UK and the rest of Europe are falling behind China and the US in the creation of biotech firms and clinical trials of new medicines.

Pascal Soriot, chief executive of AstraZeneca, said that while China had seen an “explosion of biotech companies”, and a “rapid expansion of clinical trials” that puts it ahead of the US, the UK and EU had posted declines.

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AstraZeneca overtakes Pfizer as crunch week for UK pharma looms

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Driven by a revamped drug portfolio, AstraZeneca is expected to report revenues of $10.7bn in its latest quarterly results

Nearly a decade after AstraZeneca fended off a hostile takeover approach from US rival Pfizer, the British drug firm has overtaken the Viagra maker in terms of market value, marking a significant moment in its turnaround – and for UK plc.

In a week when AstraZeneca and Britain’s second-biggest pharma firm GSK release their latest quarterly results and the main industry body, the Association of the British Pharmaceutical Industry holds its annual conference, all eyes will be on what pharma executives say about the UK as a place to operate and invest in.

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Brexit is a self-inflicted wound of unparalleled severity | Phillip Inman

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Quitting the EU has stalled business investment, making us reliant on workers who are now scarce. Hence rising wages, high inflation and increased interest rates. Result? A looming recession

Whenever Andrew Bailey, the governor of the Bank of England, talks about the economy, he is forced to mention the toll taken by Brexit.

Business leaders, initially reluctant to criticise the Tory decision to quit the EU, have begun to find their voice. Most recently, leading City figure Guy Hands called Brexit a “complete disaster” and a “bunch of total lies” that has harmed large parts of the economy.

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AstraZeneca reviews diversity in trials to ensure drugs work for all

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Firm aims to apply ‘equity lens’ across clinical tests to ensure diverse population groups take part

The pharmaceutical giant AstraZeneca is conducting a major review of diversity across its trials in an attempt to ensure its medicines work for all population groups, although it has admitted that including pregnant women is a particular challenge.

The head of oncology at Britain’s biggest drugmaker, David Fredrickson told the Guardian that the firm was among those leading efforts to improve participation of people of colour and other under-represented groups in clinical trials.

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AstraZeneca forecasts higher 2022 sales after record revenues

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Drugmaker’s total revenues increased by 41% last year with help from $4bn Covid jab income

AstraZeneca forecast higher 2022 sales and lifted its annual dividend for the first time in a decade after record revenues last year, but warned the boost from its Covid-19 products would decline.

The Anglo-Swedish drugmaker said it made almost $4bn (£2.9bn) last year from the Covid jab it developed with Oxford University. It moved away from its not-for-profit pricing in November, when it signed new contracts in Latin America, the Middle East and Asia. The shot, called Vaxzevria, has not yet been approved by the US regulator.

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Covid: scientists find possible trigger for AstraZeneca jab blood clots

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Experts hope better understanding of rare side effect of vaccine could help ‘turn the tide’ on pandemic

Scientists believe they may have found the trigger behind the extremely rare blood clot complications stemming from the Oxford/AstraZeneca’s Covid vaccine.

According to a team of researchers from Cardiff and the US, the reaction can be traced to the way the adenovirus used by the vaccine to shuttle the coronavirus’s genetic material into cells binds with a specific protein in the blood, known as platelet factor 4 (PF4).

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South African scientists explore vaccines’ effectiveness against Omicron

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Crucial work will study how well current jabs work and whether they need to be updated to tackle new variant

Scientists in South Africa have begun crucial work to assess how well Covid vaccines hold up against the Omicron variant that has been detected in more than a dozen countries since it was formally reported last week.

The variant carries dozens of mutations that are expected to change how the virus behaves, including its ability to cause infection and how well it can hide from immune defences primed by vaccines or previous infection with an older variant.

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‘Follow the science’: AstraZeneca unveils £1bn R&D centre

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Anglo-Swedish pharmaceutical company has come a long way since it fought off a takeover bid in 2014

Little expense has been spared at the giant glass and steel structure that sprouts from a once-vacant plot of land on the outskirts of Cambridge.

AstraZeneca’s £1bn new research and development centre houses 16 labs and 2,200 scientists, making it the biggest science lab in Britain along with the Francis Crick Institute in London, and the pharmaceutical company’s biggest single site investment to date.

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Thousands of AstraZeneca Covid vaccine doses going to waste despite near-record production

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Authorities move to head off supply glut amid calls for increased donations to lower-income neighbouring countries

Almost 1,000 Covid vaccination providers are destroying expired AstraZeneca supplies, with the wastage of 31,833 doses reported despite Australian production of the vaccine continuing at near-record rates.

There are now fears more will be binned as rates of uptake wane due to increased vaccination choice and the federal health department stepping in to manage the overstock.

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Local Covid vaccines fill gap as UN Covax scheme misses target

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India, Egypt and Cuba among first states to develop and make their own vaccines as Covax falls behind

Developing countries are increasingly turning to homegrown Covid vaccinations as the UN-backed Covax programme falls behind.

While western countries roll out booster jabs to their own populations, Covax, which was set up by UN agencies, governments and donors to ensure fair access to Covid-19 vaccines for low- and middle-income countries, has said it will miss its target to distribute 2bn doses globally by the end of this year.

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Big pharma fuelling human rights crisis over Covid vaccine inequity – Amnesty

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Six companies warned not to put profit before lives as report shows less than 1% of almost 6bn doses have gone to low-income countries

Amnesty International has accused six pharmaceutical companies that have developed Covid-19 vaccines of fuelling a global human rights crisis, citing their refusal to sufficiently waive intellectual property rights, share vaccine technology and boost global vaccine supply.

After assessing the performance of six Covid-19 vaccine developers – Pfizer and BioNTech, Moderna, Johnson & Johnson, AstraZeneca and Novavax – Amnesty International claims that all are failing to uphold their own human rights commitments and warns they should not be putting profit before the lives of people in the world’s poorest countries.

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Slow but steady has seen the EU win out in the vaccine race

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Ursula von der Leyen says the union’s vaccination programme is now a success after its stumbling start

We did it,” said Ursula von der Leyen in her annual state of the union address last week. With more than 70% of its adult population now fully vaccinated against the coronavirus, Europe is, “against all critics, among the world leaders”.

Moreover, the Commission president said, the EU had exported half its vaccines: “We delivered more than 700 million doses to the European people, and we delivered more than 700 million doses to the rest of the world. We are the only region to achieve that.”

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