Brennan’s Departure Not Expected To Disrupt Current Business Development Strategy At AstraZeneca

April 23-27 was the week of the changing narrative for AstraZeneca PLC, as the pipeline- and patent expiration-challenged company inked a pair of mid-sized deals – a bolt-on acquisition and a marketing alliance for a struggling, recently launched cardiology drug – unveiled poor first-quarter financial performance and announced the resignation of CEO David Brennan. Otherwise, it was business-as-usual at the multinational, cardiovascular therapy-focused pharma.

Following on the heels of several late-stage drug-development setbacks in recent months, a looming patent cliff that threatens several of the firm’s top-selling drugs and a restructuring initiative that will slash thousands of jobs, AstraZeneca on April 26 reported an 11% decline year-over-year in quarterly revenue to $7.349 billion