Anglo-Swedish pharmaceutical company AstraZeneca (AZ) has integrated UK-based biopharmaceutical company Cambridge Antibody Technology (CAT) into its global biologics business under the MedImmune banner.
The new business unit will unite the resources and expertise from CAT, MedImmune and other biologics activities within AZ.
With the revised structure, AZ has created a biotech with total revenues of over USD 1.3bn FY06, a pipeline of approximately 100 research projects and more than 12 clinical product candidates. The new entity also employs 3,000 people worldwide.
As part of the integration, Dr John Stageman, vice-president of AZ's biopharmaceutical strategic planning, will act as interim head of the UK Cambridge site.
AZ purchased CAT in June 2006 in order to boost by 25 per cent the number of biologics in its product pipeline by 2010. The company acquired MedImmune in 2007.
David M Mott, MedImmune's CEO, said: "The new MedImmune is now the operationally independent and strategically aligned biologics business unit of AZ. Bringing together the biologics expertise of CAT, MedImmune and AZ allows us to preserve MedImmune's traditional biotech agility and entrepreneurial spirit while encouraging strategic collaboration and cross fertilization of ideas under AZ's world-class research umbrella."
Dr Stageman added: "AZ's biologics capabilities have been enhanced significantly by the acquisitions of CAT and MedImmune to create a more robust, highly competitive and fully integrated biotechnology business. The scientific, technical and medical expertise that this team brings together is world class in discovering, developing, manufacturing and commercialising biopharmaceutical products."
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