AstraZeneca to keep searching for deals to boost pipeline
AstraZeneca will continue looking for deals to pump up its pipeline despite company expectations that most of its products, by 2010, will come from discoveries within its own labs.
While on the sidelines at a London financial conference Tuesday, AstraZeneca’s director of development, John Patterson, said only around 20% to 30% of the company’s drugs will come from in-licensed or acquired products, while the bulk of them will be developed by the company’s own scientists, The Wall Street Journal reported.
However, Patterson said, AstraZeneca will not slow down its search for new drugs through licensing deals and partnerships. “We need to be prepared to do more deals. We are not going to stop looking,” he said.
Over the past year, AstraZeneca has entered several licensing deals and acquired the UK’s largest biotech company, Cambridge Antibody Technology, in an effort to bolster its pipeline. Last week, AstraZeneca signed a partnership with Germany’s Bayer-Schering AG to develop new breast cancer treatments.