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AstraZeneca PLC (LSE/STO/NASDAQ: LON:AZN), a global biopharmaceutical company with a market capitalization of $230 billion and annual revenue exceeding $54 billion, announced today significant changes to its board of directors. Karen Knudsen is set to be proposed for election as a Non-Executive Director at the upcoming Annual General Meeting (AGM) on April 11, 2025. If elected, Knudsen will join the Science Committee and the Sustainability Committee. According to InvestingPro analysis, AstraZeneca (NASDAQ:AZN) maintains an impressive "GREAT" financial health score, positioning it as a prominent player in the pharmaceutical industry.
Knudsen, recognized for her expertise in oncology and healthcare leadership, has a distinguished background in cancer research and organizational growth. Her previous roles include CEO of the American Cancer Society and leadership positions at Thomas Jefferson University and the Sidney Kimmel Comprehensive Cancer Center.
The company also announced the retirement of current Non-Executive Directors Deborah DiSanzo and Andreas Rummelt, effective at the end of the AGM. DiSanzo has been with AstraZeneca since 2017, contributing her expertise at the intersection of healthcare and technology. Rummelt joined the board in 2021 following the acquisition of Alexion (NASDAQ:ALXN), bringing valuable insights into manufacturing and supply chain management.
Michel Demaré, Chair of AstraZeneca, expressed gratitude for the service of DiSanzo and Rummelt and welcomed Knudsen’s nomination, emphasizing her potential impact on the company’s success, particularly in the US healthcare industry.
In addition, Diana Layfield, another Non-Executive Director, has been appointed to the Remuneration Committee, effective May 1, 2025.
AstraZeneca, headquartered in Cambridge, UK, focuses on prescription medicines across various therapeutic areas, including Oncology, Rare Diseases, and BioPharmaceuticals. The company’s products are used by millions of patients worldwide.
This announcement is based on a press release statement and does not contain any speculative information. The company’s SEC filing provided the details of the directorate changes.
In other recent news, AstraZeneca has been the subject of various analyst reviews and advancements in its product pipeline. UBS upgraded AstraZeneca’s rating from Neutral to Buy, setting a new price target of GBP142.00. The upgrade is based on the company’s strong standing in the Major Pharma sector and robust sales growth projections up to 2029. UBS forecasts a 6% compound annual growth rate in revenue from 2024 to 2030, which could potentially increase total revenue to $74.4 billion.
Meanwhile, BofA Securities maintained its Buy rating on AstraZeneca, holding a steady price target of GBP145.00. The firm’s positive stance is based on the pharmaceutical company’s valuation and its potential for a high-single digit sales compound annual growth rate. BofA Securities also highlighted significant developments expected in the next 18 months, including multiple pivotal trial results.
Morgan Stanley (NYSE:MS) assigned AstraZeneca an Overweight rating, with a price target of GBP145.00. The firm expects high single-digit and low double-digit growth in the company’s revenues and earnings per share, respectively. Morgan Stanley also noted AstraZeneca’s strong product sales momentum and potential for positive earnings revisions.
However, Goldman Sachs reduced its price target on AstraZeneca shares to GBP150.67, down from GBP155.58, while maintaining a Buy rating. Despite challenges in the China market, the firm expressed confidence in AstraZeneca, citing a robust pipeline of products that could significantly contribute to the company’s revenue goal of $80 billion by 2030.
Lastly, AstraZeneca’s drug Imfinzi received a recommendation for approval from the Committee for Medicinal Products for Human Use of the European Medicines Agency for the treatment of adults with limited-stage small cell lung cancer. The recommendation was based on the results from the ADRIATIC Phase III trial, which showed a reduction in the risk of death and disease progression for patients treated with Imfinzi.
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