AstraZeneca may be more than just a vaccine business in the long term, and is considering buying small businesses that specialize in oncology and cardiovascular treatments, CEO Pascal Soriot said. rice field.
Adoption of AstraZeneca’s Covid-19 vaccine is hampered by production delays, regulatory investigations following rare cases of serious side effects, and concerns about its relatively short shelf life compared to other shots.
Now in the third year of the pandemic amid a global vaccine oversupply, developed countries have been forced to vaccinate large portions of their populations, favoring mRNA vaccines from Pfizer and Moderna as boosters. Many are declining in use.
AstraZeneca’s Covid vaccine has not yet received U.S. approval.
“I’m not sure the company will stay in the Covid vaccine business,” Soriot said in an interview, adding that it may shelve plans to build a broader vaccine portfolio.
AstraZeneca is looking for a bolt-on acquisition, Soriot added. The CEO has quadrupled the stock price of AstraZeneca in 10 years.
“I can keep doing this job for years,” he said.
The 63-year-old was seen as the successor to outgoing chairman Leif Johansson.
But in July, Soriot dismissed speculation that he was planning to retire soon, saying he looked forward to working with newly announced chairman Michelle Demare for years to come.
Soriot was tasked with turning troubled AstraZeneca back in October 2012 after working for Roche, a pharmaceutical company.
The company’s fortunes changed after the Frenchman took the helm and increased its focus on specialty medicines and the lucrative oncology field.