Source: Healthcare Digital
An aerial shot of the AstraZeneca HQ in Cambridge, England. As it's announced AstraZeneca's CEO Pascal Soriot's package could rise by as much as US$24mn we explore the history of the UK's most valuable business AstraZeneca is the biggest UK-based business, with a market capitalisation of US$228bn. This week the Anglo-Swedish company approved a pay policy that will see CEO Pascal Soriot's package rise by as much as US$24mn. This will take his maximum annual bonus for 2024 to three times his base salary, and make him eligible for long-term performance-based share awards worth as much as 8.5 times his salary.
It makes Soriot one of the best-paid executives among London's blue-chip FTSE 100 companies.
AstraZeneca says the pay policy changes are necessary to increase competitiveness against its European peers and to “recognise leadership's critical role in achieving its long-term targets”. In the wake of the pay deal, we take a look at AstraZeneca – its history and some of the medical milestones it has achieved in that time. Astra AB was a Swedish pharmaceutical company that was founded in 1913 by pharmacist Gustaf Dyrssen. Initially it produced dental and veterinary products, but later shifted focus to pharmaceuticals. The $33bn merger between the two companies in 1999 was a strategic move to create a stronger global presence and to bolster research and development capabilities.
Astra's expertise in cardiovascular and gastrointestinal drugs was complemented by Zeneca's strengths in oncology and respiratory medicines, and the merger has seen AstraZeneca go on to become a leader in innovative healthcare solutions. The company’s role in this was pivotal, and included funding, manufacturing and distributing the vaccine. It also played a key role in conducting clinical trials, obtaining regulatory approvals, and scaling up production to meet global demand.
The vaccine was based on a viral vector platform, a technique that uses a modified virus – or vector virus – as a treatment delivery mechanism.
The Oxford-AstraZeneca vaccine was approved for emergency use in January 2021, shortly after approval was received by the Pfizer-BioNTech and Moderna vaccines (both December 2020). AstraZeneca provided the vaccine on a not-for-profit basis during the pandemic, and collaborated with various organisations to ensure equitable access to vaccines globally. AstraZeneca is the biggest UK-based business, with a market capitalisation of US$228bn. This week the Anglo-Swedish company approved a pay policy that will see CEO Pascal Soriot's package rise by as much as US$24mn. This will take his maximum annual bonus for 2024 to three times his base salary, and make him eligible for long-term performance-based share awards worth as much as 8.5 times his salary.
It makes Soriot one of the best-paid executives among London's blue-chip FTSE 100 companies.
AstraZeneca says the pay policy changes are necessary to increase competitiveness against its European peers and to “recognise leadership's critical role in achieving its long-term targets”. In the wake of the pay deal, we take a look at AstraZeneca – its history and some of the medical milestones it has achieved in that time. Astra AB was a Swedish pharmaceutical company that was founded in 1913 by pharmacist Gustaf Dyrssen. Initially it produced dental and veterinary products, but later shifted focus to pharmaceuticals.
The $33bn merger between the two companies in 1999 was a strategic move to create a stronger global presence and to bolster research and development capabilities.
Astra's expertise in cardiovascular and gastrointestinal drugs was complemented by Zeneca's strengths in oncology and respiratory medicines, and the merger has seen AstraZeneca go on to become a leader in innovative healthcare solutions. The company’s role in this was pivotal, and included funding, manufacturing and distributing the vaccine. It also played a key role in conducting clinical trials, obtaining regulatory approvals, and scaling up production to meet global demand.
The vaccine was based on a viral vector platform, a technique that uses a modified virus – or vector virus – as a treatment delivery mechanism.
The Oxford-AstraZeneca vaccine was approved for emergency use in January 2021, shortly after approval was received by the Pfizer-BioNTech and Moderna vaccines (both December 2020). AstraZeneca provided the vaccine on a not-for-profit basis during the pandemic, and collaborated with various organisations to ensure equitable access to vaccines globally.