David Brennan, who rose to the top of the pharmaceutical industry through sales, has the easy ability of a sales executive to break down complex topics. So when Brennan became CEO of AstraZeneca in 2006, he looked into the future and foresaw a major loss of revenues as blockbuster drugs—such as heartburn medication Nexium and antipsychotic Seroquel—faced increasing competition from generics. Although Brennan had the luxury of time, he quickly undertook a multiyear transformation.
As a result of that transformation, AstraZeneca has announced the eventual elimination of about 20,000 positions globally. It has started to look for promising therapies outside the company—setting a target of securing about 40 percent of its pipeline from external sources. It is also pursuing growth in emerging markets, and, by 2014, 25 percent of the company’s revenues are expected to come from these markets.
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