By Denise Roland
LONDON-- AstraZeneca PLC said Wednesday that Briggs Morrison, a
top research and development executive, is leaving the company.
The departure is a potential blow to the British pharmaceuticals
giant as it works to refill its drug pipeline. Chief Executive
Pascal Soriot has promised investors a set of ambitious growth
targets based in part on taking advantage of its research and
development efforts. The targets were part of Mr. Soriot's defense
against an unsolicited acquisition approach from rival Pfizer
Inc.
Mr. Morrison is leaving to take on the role of chief executive
of a smaller, privately held pharmaceutical company, AstraZeneca
said, though a company spokeswoman declined to specify. He will
step down from his responsibilities as executive vice president for
global medicines development and chief medical officer at the end
of this week and leave the company "shortly afterward," the
spokeswoman said. AstraZeneca said he wasn't available to
comment.
Mr. Soriot will take on his research and development duties
until a successor is appointed. Elisabeth Bjork, who currently
heads up late stage development in cardiovascular and metabolic
disease, will take on the role of chief medical officer on an
interim basis.
Mr. Morrison joined AstraZeneca in 2012. He took charge of the
company's late stage research early the following year, shortly
after Mr. Soriot succeeded David Brennan as CEO. He is one of three
key executives at the top of Astra's research and development
operation.
R&D has become a central focus for Mr. Soriot's strategy for
Astra, especially after the Pfizer approach. He has doubled down on
research as key to achieving the company's goal of boosting annual
sales to $45 billion, almost double last year's $26 billion.
Mr. Morrison has presided over a dramatic revival of the
company's pipeline, which now includes a number of closely watched
cancer drugs in a hot area of research known as immunotherapy. He
has also focused the company's research efforts on a handful of key
therapy areas including diabetes, respiratory and cardiovascular
medicines, as well as cancer drugs.
Write to Denise Roland at Denise.Roland@wsj.com
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