AstraZeneca boss urges western drugmakers to move at ‘Chinese speed’
AstraZeneca CEO Pascal Soriot has warned that Western pharmaceutical companies must accelerate their innovation speed to compete with the rapid advancements seen in China. He cited the decline of the Western automotive industry as a cautionary tale for the drug sector.
Why it matters
This highlights the increasing global competition in the biotech sector and the strategic shift toward faster R&D cycles to maintain market leadership.
Pascal Soriot is AstraZeneca’s chief executive and the highest-paid leader of a FTSE 100 company. Pascal Soriot is AstraZeneca’s chief executive and the highest-paid leader of a FTSE 100 company. AstraZeneca AstraZeneca boss urges western drugmakers to move at ‘Chinese speed’ Europe and US risk being outpaced on innovation, as happened in the car industry, warns Pascal Soriot
Prefer the Guardian on Google AstraZeneca must operate at “Chinese speed” to ensure it does not suffer the fate of the western automotive industry by losing out to more innovative rivals, the drug company’s boss has said.
The FTSE 100 company is watching the rise of China’s pharmaceutical industry closely and collaborating to take drugs to global markets, but its chief executive, Pascal Soriot, said the US and European pharmaceutical sectors must focus on increasing the speed of innovation.
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