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...AstraZeneca’s chair has hit out at proxy advisers for “double standards” that “do serious harm” to the competitiveness of UK companies, after more than a third of the company’s shareholders voted against...
...When it outlined the case for lifting his potential payout in its annual report, AstraZeneca said the increase was “material if viewed in a UK context” but “the changes are necessary to increase the competitiveness...
...The controversy over Soriot’s pay also comes as the UK seeks to encourage more companies to remain listed in London amid a global battle for talent....
...UK ministers are hoping to secure a major new vaccines investment by AstraZeneca with a possible state aid package worth tens of millions of pounds, in a deal that would deliver a big boost to Britain’s...
...The UK-based pharmaceutical group reported revenue of $12.7bn, well ahead of consensus estimates of $11.9bn....
...The warning came as UK-listed AstraZeneca posted a 19 per cent increase in revenues in the first quarter of 2024 and after Soriot secured a bumper potential pay rise of £1.8mn earlier this month to earn...
...The company’s immunotherapy drug Imfinzi helped patients with so-called limited stage small cell lung cancer survive for longer....
...The writer is chair of AstraZeneca The AGM season is in full swing, and with it comes the usual set of controversies around remuneration....
...The chancellor said that AstraZeneca would invest £650mn in the UK to expand its manufacturing, after the government had encouraged the pharmaceutical company to increase its UK investment....
...AstraZeneca has promised to increase its dividend by 7 per cent this year, ahead of a key shareholder vote on pay for its long-standing chief executive Pascal Soriot....
...In February, the UK pharmaceuticals company hit a long-term sales target that once seemed out of reach....
...The voting is the latest sign of tension between UK companies attempting to compete for talent with high-paying US rivals, and shareholder bases accustomed to much lower payments for executives....
...help the UK company to develop a portfolio of radioconjugate drugs....
...These data reinforce that message,” said Susan Galbraith, executive vice-president of oncology R&D at AstraZeneca....
...AstraZeneca’s jab developed with Oxford university was widely used across the world, but sales fell more than 99 per cent to just $12mn in 2023....
...Muir had worked at AstraZeneca, which has more than 8,700 employees in the UK, since 1998....
...Proxy advisers “do serious harm” to the competitiveness of UK companies says the AstraZeneca chair (Report, April 16). They do indeed....
...GSK’s chief commercial officer Luke Miels told the Financial Times this month that the UK pharmaceutical company was hunting for deals in China, having rebuilt a “very strong relationship” with the government...
...The deal is expected to close in the first quarter of next year, AstraZeneca said....
...The European Commission said on Thursday it would seek to open talks to restore limited freedom of movement for EU and UK citizens, allowing them to stay for up to four years in the destination country....
...It already made its diagnostics products in the country but had “limited manufacturing for pharma”, he added....
...If found liable, any damages would be covered by a UK government vaccine damage payment scheme. AstraZeneca said the defendant’s case that the vaccine was defective was “confused” and “wrong in law”....
...The agreement is part of AstraZeneca’s ambitious plans to replace traditional chemotherapy with a new generation of targeted drugs....
...Daiichi Sankyo, which developed the drug with AstraZeneca and leads on marketing of the product in the UK, said it was “extremely disappointed by the decision”....
...London Stock Exchange Group and Smith & Nephew are among the FTSE 100 companies hoping to follow AstraZeneca by pushing through pay increases for their executives at upcoming annual meetings....
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