AstraZeneca Research Executive Morrison Is Leaving Company

By Denise Roland 

LONDON-- AstraZeneca PLC said Wednesday that Briggs Morrison, a top research and development executive, is leaving the company.

The departure is a potential blow to the British pharmaceuticals giant as it works to refill its drug pipeline. Chief Executive Pascal Soriot has promised investors a set of ambitious growth targets based in part on taking advantage of its research and development efforts. The targets were part of Mr. Soriot's defense against an unsolicited acquisition approach from rival Pfizer Inc.

Mr. Morrison is leaving to take on the role of chief executive of a smaller, privately held pharmaceutical company, AstraZeneca said, though a company spokeswoman declined to specify. He will step down from his responsibilities as executive vice president for global medicines development and chief medical officer at the end of this week and leave the company "shortly afterward," the spokeswoman said. AstraZeneca said he wasn't available to comment.

Mr. Soriot will take on his research and development duties until a successor is appointed. Elisabeth Bjork, who currently heads up late stage development in cardiovascular and metabolic disease, will take on the role of chief medical officer on an interim basis.

Mr. Morrison joined AstraZeneca in 2012. He took charge of the company's late stage research early the following year, shortly after Mr. Soriot succeeded David Brennan as CEO. He is one of three key executives at the top of Astra's research and development operation.

R&D has become a central focus for Mr. Soriot's strategy for Astra, especially after the Pfizer approach. He has doubled down on research as key to achieving the company's goal of boosting annual sales to $45 billion, almost double last year's $26 billion.

Mr. Morrison has presided over a dramatic revival of the company's pipeline, which now includes a number of closely watched cancer drugs in a hot area of research known as immunotherapy. He has also focused the company's research efforts on a handful of key therapy areas including diabetes, respiratory and cardiovascular medicines, as well as cancer drugs.

Write to Denise Roland at [e-mail]

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