The Anglo-Swedish drugmaker expects the drug pipeline programme to incur one-off restructuring charges of up to US$2 billion and be largely completed by the end of 2029. (AFP pic)BENGALURU: AstraZeneca on Friday launched an unexpected restructuring drive aimed at investing in its new drug pipeline, hoping that annual savings of about US$1.5 billion from the plan will keep the drugmaker on track to achieve its long-term ambitions.
The Anglo-Swedish drugmaker did not detail whether the plan would involve job cuts but said it expects the programme to result in one-time restructuring charges of up to US$2 billion and be largely completed by the end of 2029.
AstraZeneca has been stepping up investments across therapy areas as long-time CEO Pascal Soriot seeks to reassure investors that recent trial setbacks have not undermined the company's target of generating US$80 billion in annual revenue by 2030 from about 20 expected new drug launches.
