Getting to goal

Bringing in a new CMO with a proven track record in cancer looks like AstraZeneca plc's best shot at recovering from a string of setbacks and hitting the lofty approval and revenue targets it set for itself last year.

Last May, Executive Director and CEO Pascal Soriot outlined an ambitious plan for AZ to have 10 new drugs approved by 2020 and get to $45 billion in risk-adjusted annual revenue by 2023 - nearly double the pharma's 2013 revenues of $25.7 billion. Soriot disclosed the plan to fend off a $106 billion hostile takeover by Pfizer Inc., which Pfizer later abandoned when it became clear the tax benefits it hoped for would not be available. ...