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AZ Crows About Oncology Portfolio In 1Q; Strives For $1.1bn Cost Save

 
• By Lucie Ellis-Taitt

AstraZeneca PLC is restructuring and streamlining its commercial and manufacturing operations under a new cost-cutting effort in order to save $1.1bn annually from 2017 and focus internally on just three core areas.

The operational changes will incur a one-time restructuring charge of $1.5bn and will be completed by the end of fiscal year 2017. However, in the long run, the cash saved will be redirected towards AstraZeneca's oncology portfolio and for striking partnerships in "opportunity-led" parts of the company's pipeline – such as infection, neuroscience and inflammatory disease outside of the respiratory field.

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