There is huge pressure on Pascal Soriot after disappointing results in the trial of a key cancer drug times photographer David BebberA top ten investor in Astrazeneca believes that Pascal Soriot, the chief executive, may be sacrificed to end speculation that the pharmaceuticals company is the target for a bid after a drug trial setback. The independence of one of Britain’s biggest companies has been called into question after investor confidence was hit by disappointing results from Mystic, an eagerly awaited lung cancer study at the centre of Astra’s strategy. Leif Johansson, chairman of Astra since June 2012, said this month that he was resigning as chairman of Ericsson after the Swedish telecoms equipment maker came under pressure from Cevian Capital, an activist investor. ‘It would be much easier to sell toothbrushes, toothpaste or shampoo. But that’s not what we are about’One leading shareholder in Astra said yesterday that Mr Johansson would now be under pressure to act at Astrazeneca: “My guess is…

Source: The Times July 28, 2017 23:03 UTC