MedImmune's chief executive talked publicly for the first time about AstraZeneca's April takeover of his company--and his assessment of his new corporate parent is, not surprisingly, positive. David M. Mott did get to keep his job, and MedImmune is adding to its staff of 3,000, rather than slicing away at jobs as the rest of AstraZeneca is [1]. Plus, Mott expects R&D spending to ramp up significantly, to $1 billion by 2010 from $400 million last year. Big Pharma is fun, he essentially said. It probably helps that he made a cool $145 million off the deal himself.
- check out the report [2]
Related Articles:
AstraZeneca snares MedImmune in $15.6B buyout. Report [3]
MedImmune investor urges company to seek bidders. Report [4]
MedImmune goes on the auction block. Report [5]
AstraZeneca lays out road map for recovery. Report [6]
Links:
[1] http://www.fiercebiotech.com/story/astrazeneca-cuts-7-600-jobs/2007-07-26
[2] http://www.washingtonpost.com/wp-dyn/content/article/2007/08/09/AR2007080902008.html
[3] http://www.fiercebiotech.com/story/astrazeneca-snares-medimmune-in-15.6b-buyout/2007-04-23
[4] http://www.fiercebiotech.com/story/medimmune-investor-urges-company-to-seek-bidders/2006-12-14
[5] http://www.fiercebiotech.com/story/medimmune-goes-on-the-auction-block/2007-04-12
[6] http://www.fiercebiotech.com/story/astrazeneca-lays-out-road-map-for-recovery/2006-06-08