Astra Zeneca CEO Pascal Soriot’s position is more and more difficult. The French manager in 2015 convinced shareholders to reject a $118bn acquisition offer by Pfizer, arguing that independence would mean higher financial return to shareholders. The strategy developed by Soriot and his team strongly focused on cancer therapies, and specifically on immunotherapy Imfinzi (durvalumab), which yesterday failed a clinical trial.
Indeed, the company yesterday announced that its therapy has not reached the set endpoint in the Phase-III Eagle clinical trial: improving life expectancy in patients with metastatic head and neck cancer.
AstraZeneca already disappointed its investors last month, as it announced negative results from Mystic clinical trial, testing Imfinzi on patients with non-small-cell lung cancer.