Zeneca Group Plc

同写意20岁庆！中国医药创新未来之路！“意”同创新，穿越周期，赢得未来。7月中旬，苏州金鸡湖畔，让我们与“新药写意人”一起为中国医药创新“同写意”！上周，阿斯利康CEO Pascal Soriot刚过完他的65周岁生日。在此前后，两件大事被宣布，一是Pascal Soriot成功涨薪12%，二是他需要带领阿斯利康实现下一个十年目标——800亿美元销售额。戏剧性的是，去年，关于Soriot即将拍屁股走人的传闻还满天飞，就在几个月前，路透社等媒体还在就离职传闻猜测，谁会是Soriot的继任者。是创造超35%销售额的肿瘤学研发执行副总裁Susan Galbraith？还是负责肿瘤业务商业战略的David Fredrickson？又或者是首席财务官Aradhana Sarin，还是早已叛跳到竞争对手GSK的Luke Miels？以上候选者，都未必能带来比Pascal Soriot更高的价值。这位曾拯救了阿斯利康的热血「青年」表示，65岁还是拼一拼的年纪，自己不会在「肿瘤学及其他领域发生这么多事情的时候退休」。不仅不退休，Soriot还想要证明给股东看，他将再次开启阿斯利康新纪元。Pascal Soriot（图源：European CEO）1薪酬辩论离职传言仍在发酵之时，今年开年，围绕Soriot的最火热的话题是薪酬问题。就像2017年那次，有报道称他将被以色列制药公司梯瓦挖走，紧接着几个小时都联系不到他。虽然他最终留在了阿斯利康，但此后薪水大幅上涨。这一次涨薪辩论，最重要起因是，Soriot提前实现了他在2014年放出的「豪言壮语」——十年后让公司年营收突破450亿美元。当然，从现在的增速来看，他的信心是有道理的。仅仅今年第一季度，阿斯利康的销售额就已轻松超出预期——新财年前三个月的收入增长17%，达到127亿美元，高于预期的118亿美元，公布当天公司股价应声立涨超6%。2月，阿斯利康提出了Soriot的最新薪酬提案以嘉奖其卓越贡献——将向Pascal Soriot支付高达1870万英镑（约合2387万美元）的年薪。相应的，Soriot需要达到一系列目标，包括新药批准、每股收益和总销售额，才能获得今年业绩的最高金额。Soriot用了十年左右，让阿斯利康转变为富时100指数中仅次于壳牌的第二大公司，这位CEO去年赢得了1690万英镑（约合2158万美元）的报酬，是蓝筹股指数中薪酬最高的CEO之一。Glass Lewis和ISS等股东对涨薪提出异议， 他们的理由是——Soriot的收入已经超过了一些欧洲大型制药公司的管理者，比如欧洲市值最高的诺和诺德CEO Lars Fruergaard Jørgensen，去年仅获得了6800万丹麦克朗（780万英镑）的报酬。这并非是股东第一次对薪酬提出质疑。2014、2016、2018，每两年都会有近半股东对Soriot的薪水表示不满。上一次是阿斯利康2021年度会议上，Glass Lewis和ISS的强烈建议股东们反对每三年制定一次薪酬计划的提议，最终该提议收到约40%的反对票。不过，这一次Soriot有更加强力的支持者，首先就是阿斯利康董事长Michel Demaré。他坚持为Soriot对企业的贡献，以及最新的薪酬提案辩护。他告诉媒体，如果这一薪酬真的太过分，那阿斯利康已经做好了承受「重大批评」的准备，因为如果Soriot在美国药企，显然可以赚得更多，「礼来CEO Dave Ricks 2023年的薪酬为2660万美元」。 2012-2023阿斯利康和竞争对手的股东投资回报情况（图源：路透社） 相比其他竞争企业，Soriot使阿斯利康为股东创造了更多的回报，远远超过了「欧洲和全球同行的平均水平」。另外一位大股东Jain指出，Soriot改变了阿斯利康的命运，扭亏为盈，「但作为CEO薪酬严重偏低」。挪威银行投资管理公司也赞成增加Soriot的薪酬。最终，ISS等股东在这场辩论中落了下风。但他们坚持称，在与美国同行保持竞争力的情况下，应就英国的薪酬标准进行进一步讨论。虽然Soriot本人并没有对涨薪辩论公开表态，但他表示CEO的职位「需要有竞争力的薪酬，很多人才实际上都在（美国）」。他补充说，「我还打算在这里待一段时间」，离职传言不攻自破。这场争议最终以Soriot涨薪成功而落幕。但一些股东还想要更多更宏伟的承诺。于是，Soriot提出，下一个十年销售额还能再翻一倍，实现年收800亿美元。2热血中年稍年轻时的Soriot，与他所欣赏的少年很像——15岁发起气候罢课运动的瑞典女孩、激进派活动家Greta Thunberg，他们都目标明确、勇敢、擅长鼓舞人心，且口气不小。他在巴黎郊区长大，十几岁时几乎每周都会打架，《金融时报》称青少年时期的Soriot是「巴黎街头霸王」。但他自己说，「这并不是什么值得骄傲的事，但身处于（被欺负）的环境，必须为自己、为团体挺身而出」，挨打就要团结起来，打回去。这股血气方刚的叛逆劲头，以及让团队找到目标感、并为之热血投入的「神奇」的带动力，在五十几岁的Soriot身上依然存在。2012年，Pascal Soriot被邀请管理阿斯利康。Pascal Soriot（图源：Financial Times）彼时，阿斯利康管线中的支柱产品——治疗高胆固醇的Crestor、治疗胃酸反流的Nexium、抗精神病Seroquel药物，都面临专利到期。华尔街分析师预测，专利悬崖将使阿斯利康年销售额在五年内蒸发170亿美元。而阿斯利康并没有能接替顶上的新产品。雪上加霜的是，阿斯利康整个团队士气低迷，谈复兴、谈崛起，看起来都遥遥无期。Soriot显然是来救火的。挽救阿斯利康的第一项工作，就是收回前任CEO用来回购股票的数十亿英镑资金，把它们全部投入药品研发。而其他高管对此表现出信心不足，说「很难成功」，因为「科研团队不够好」。Soriot不这么认为，他发现「公司有很多非常优秀的员工，但整个组织都不知道自己到底要往哪里走」，而且「对如何扭转局面缺乏清晰的认识」。他相信「内生热情」的驱动力。先尝试恢复了一种已暂停的创新抗癌药物的研发——此前暂停是由于商业团队质疑其市场前景。Soriot推测，肿瘤药物面临的竞争相对较小，应优先集结在肿瘤药物的研发上。同样重要的是，科研团队对该药物充满热情。科研团队因恢复研发这件「小事」找回了「价值感」。而这款药物就是现在的Lynparza，2023年为阿斯利康贡献了28亿美元的收入，在所有产品中排名第三。「应该去激励人们取得切实可见的成就，而不是对着科学家说我们要实现多大的市场和多高的股价，他们不在乎。」Soriot认为，首先是让员工找到自己的目标，然后再回到建立公司的集体意识。此后，他还将包括AI在内的信息技术引入到药物研发中。Pascal Soriot正打算就此大展拳脚，展开一番新事业。转折意外降临，2014年，辉瑞对阿斯利康发出了收购邀约，收购价不断抬高，从开始的588亿英镑到最终的694亿英镑。这一报价高出其市值的50%，阿斯利康的股东们对收购抱有相当期待。新来的Soriot却坚持反对。他经历过几次大规模收购，在美国亲眼见识过安万特和赛诺菲合并，也亲身参与了基因泰克被罗氏收购后的建设，他认为，当时的阿斯利康，很难应付收购带来的文化冲突。他声称，这笔交易将拖延「救命药物」的上市进程，这一说辞激怒了辉瑞的高管。虽然两年后神速推出的肺癌药物Tagrisso，几乎印证了Soriot并不是在找借口，但当时大多数人都对他抱有怀疑。不过，这场收购风波反而催化了阿斯利康内部团队的动力。意气风发的Soriot拿出战斗姿态，为了取得董事会的信任，先立一个Flag——10年后让阿斯利康销售额突破450亿美元。3漫长的等待分析师预测，阿斯利康2023年时至多能实现340亿美元或370亿美元的销售额。Soriot兑现诺言的过程显然要困难得多。随后几年里，阿斯利康的股价远低于辉瑞在2014年给出的收购价格，扭转阿斯利康命运的重磅炸弹产品依然看不清楚。「销售下滑的时间，比我来阿斯利康的时间还要长。」在总结2018年业绩时，Pascal Soriot曾这样说。Pascal Soriot（图源：盖蒂图片社）砸钱押注并不算难，难的是断舍离。Pascal Soriot主张出售手头正在缩水的筹码——Seroquel和Nexium等曾经备受推崇的品牌，以筹集资金专注于那些具有更大增长潜力的品牌。分析师Tim Anderson认为，这种战略难免会给外界一种「做账」的印象，但确实是减轻产品下降负担的必要步骤。挑战信任关系的是，这一策略还要求投资者容忍多年的收入下降，还得相信Soriot「恢复增长」的承诺。2017年，该公司曾寄予厚望的肺癌新药组合在临床试验中失败，使阿斯利康的市值蒸发100亿英镑，该集团的命运似乎达到了最低点。神奇的是，拐点出现在2018年，阿斯利康又恢复了增长。 2012年和2018年阿斯利康销售前10的产品（图源：BioPharma Dive） 2019年，肺癌药物Tagrisso成为阿斯利康最畅销的产品，超过了Symbicort。虽然Tagrisso的销售额仍然远远落后于Crestor的高峰期，但该药物的优势在于它是靶向肺癌适应症的首选药物，与Crestor相比，需要的销售和营销资源要少得多，Crestor则需要在激烈的大规模心脏病环境中与辉瑞的立普妥竞争。与此同时，Lynparza已成为治疗卵巢癌和乳腺癌等疾病的药物类别中的FIC药物。Lynparza成为与默沙东合作的焦点，2018年为阿斯利康带来了16亿美元的预付款。阿斯利康产品销售增速显著。2019年，由Tagrisso、Imfinzi和Lynparza为首的肿瘤产品，创造了接近重磅炸弹的Crestor的销售额，超过60亿美元。这一年，大型药企的估值平均上涨了6%，阿斯利康一跃上涨30%。而Soriot，成为《哈佛商业评论》全球100位最佳CEO的名单中，上榜的唯二药企高管之一。当时阿斯利康160余个临床研究项目中，60%以上都集中在癌症领域，因此，阿斯利康贴上了「著名抗癌制药商」的标签。Wolfe Research分析师预测其收入增长将「持续到2028年」，投资银行Cowen补充，「阿斯利康在2018年至2024年期间的增长将领先于所有制药公司」。4「过度承诺」2020年夏天，Soriot担任阿斯利康CEO的八年后，如日中天，这家公司股价上涨了200%。COVID-19塑造了这些大型MNC CEO的共同记忆，Soriot开始面临和辉瑞CEO Albert Bourla类似的状况。疫苗注射到数百万人的手臂上，Soriot却因其分销和数据争议而不断受到批评。自当年7月开始，阿斯利康股价下跌，到第二年3月已经跌超五分之一，落后于十几家规模较大的竞争对手。美国数据和安全监测委员会对阿斯利康公布的疫苗数据提出异议，明确暗示他们排除了最新数据，夸大了业绩。Soriot负责处理这场公关危机。他先是口头妥协了，称预防COVID-19感染的有效性仅略有下降，从79%降至76%，但预防重症和死亡的成功率仍为100%。这并未使阿斯利康获得更多喘息的机会，下一场辩论接踵而至。该公司不小心已卷入欧盟与英国脱欧的政治斗争，欧盟官员暗示，阿斯利康在意大利的一家工厂储备了2900万剂疫苗以供销往海外，而当时欧盟国家没有足够的疫苗可用，这引发了人们的愤怒。阿斯利康的辩解在政治议题的影响下，略显无力，他们只好说大部分剂量就是运往欧盟的。身处舆论中心的Soriot，危机未停。大多数疫苗、特效药提供者，都会在某一天开始被斥责「发国难财」。而阿斯利康和Soriot的经历不完全相同，在这之前他们先被股东大斥，理由是Soriot不顾销售额，动员公司「在大流行期间以成本价大规模提供疫苗」。Pascal Soriot（图源：Financial Times） 有多便宜呢？同期的Moderna疫苗每剂单价25-37美元，辉瑞和BioNTech的疫苗单价19.5美元。阿斯利康和牛津大学合作研发的COVID-19疫苗对外单价为3-4美元，一杯奶茶钱。在2021年COVID-19疫苗最火热的第一季度，阿斯利康交付了约6800万剂疫苗，销售额仅有2.75亿美元。难怪股东对其不满。同时，尽管几乎没有疫苗经验，但Soriot仍承诺，阿斯利康的产量将比任何其他公司的疫苗更多。2021年3月以前MNC新冠疫苗交付情况（图源：Airfinity）有人说，Pascal Soriot的「乐观」拯救了2018年以前的阿斯利康，但实现承诺的「质量」是他的弱点。在COVID-19大流行中，这一点尤为明显。一些人认为，Soriot在疫苗生产的数量和时间表上「过度承诺」了。2021年2月，Soriot会见欧盟官员时，承诺在第二季度总共提供1.5亿剂疫苗。3月，这一目标被削减到7000万，销售额目标也从最初的1.2亿欧元成倍削减。这使一些欧盟官员认为Soriot「并不可靠」。虽然面临诸多争议，但Soriot并没有被董事会解雇。大多股东还像此前漫长的等待期时一样，相信Soriot的判断。5松弛感与减法运动时刻紧绷的管理者并不少见，很多人试图凭借这样的外部形象，给下属员工留下「可靠」的印象。法国人Soriot却靠「松弛且高效」的特质，被投资者和员工喜爱。他对《纽约时报》记者说，COVID-19爆发以来的12个月，是他做CEO以来最艰难的时期，早中晚不停穿梭在美国、欧洲和澳大利亚之间。唯一能抚慰他的伙伴，是他的猫咪Daisy。外媒这样描述他的形象，「身材匀称，一头黑发，梳得整整齐齐」，周末的消遣是骑马和骑自行车。Soriot自己说，如果不是药企CEO，他会成为一名马兽医。Pascal Soriot（图源：Financial Times）他从罗氏，到基因泰克，再到阿斯利康。一以贯之的风格是「休闲强度」，就是休闲与努力工作互不耽误。用现在的话说，是努力工作之余保持真实的「松弛感」。罗氏刚收购基因泰克时，他被委派前往整合管理这家加州科技公司。他坦言自己是忐忑的，像每一个即将履职新处的普通员工一样，「坐上前往旧金山的飞机，一直在发抖」，他心想，一个从瑞士来，操着一口奇怪的法国口音的管理者，员工会怎么看。事实上，他多虑了。他建立的「休闲强度」文化，被基因泰克奉为其企业精神，「我试着做一件事不要看得太严肃，要放松和平易近人，同时在运营方式上保持竞争感」。Soriot试图将这一精神带到阿斯利康。他坐在一个开放式的办公室里工作，办公桌旁的文件柜上摆放着孙子的照片。在阿斯利康还未迎来转机时，他已经在考虑扭转颓势之后自己的去处，「一边想在事业上继续前进，一边想陪孙子度假」。他说，不希望成为那种「好像停止工作就会死一样」的人，他起初是想着，等阿斯利康情况不错时「找一个继任者」，然后自己去澳大利亚享受生活。但往往嘴上这么说的人，在事业上找到新的兴奋点时，又会马不停蹄地跑起来。就比如说，刚实现450亿美元的销售目标，65岁的他还是又立下了800亿美元的军令状。减法运动，是在他执掌阿斯利康期间开展的，被商界列为「组织管理」范例的管理措施之一。该运动由阿斯利康高级总监Pushkala Subramanian主导执行，旨在简化该公司6万名员工的工作方式。2015年，Subramanian成立了由四名成员构成的「简化卓越中心」，提出「百万小时挑战」，目标是让每位员工每周减少30分钟综合事务工作时间，用这些时间推进临床试验和为患者服务。在阿斯利康这样一家权力下放的大型药企，Subramanian知道，传统自上而下的方法会适得其反。因此，他们决定从主要几大单位中选出「减法运动」的反馈者和领导者，帮助扫清障碍。改革涉及到各类日常事务。例如，Subramanian团队与人力资源部门、招聘经理、IT领导等合作，使新员工入职第一天，就能拥有正常运行的笔记本电脑并获得技术支持。此外，她的团队还将Outlook的默认会议时长从30min修改到15min，以促进节省沟通的时间成本。巴西分部曾举办「浪费猎人」活动收集基层建议，其中一个获票最多的建议是，简化复杂的表格，重新设计系统，使员工可以将1-800热线电话中接到患者反馈的安全问题信息，输入同一个数据库——类似于现在常用的共享文档，这改变了阿斯利康传统信息层层传输的低效和误差问题。在墨西哥，阿斯利康的IT团队将文书工作减少了一半，据统计每年可节省690个小时。中国台湾和泰国则实行了「无会议日」，日本同样减少一些书面工作，使当地所有员工每年能节省5万个小时。6行走在中国市场那么，这样一位65岁的CEO，将如何实现800亿美元目标？ 阿斯利康的官方回应是聚焦在肿瘤学管线上。其一系列布局已有许多人探讨过，在此不多赘述。值得我们尤其关注的是，构成该「宏图伟业」的一块关键拼图，依然是新兴国家，尤其是中国市场。这部分收入已占阿斯利康总收入近1/3。大型药企想要在中国市场分一杯羹，大多选择和百济神州这类本土公司合作实现。在阿斯利康的布局里，合作却不是最核心的计划。因为这家药企早在1993年（还不能算是阿斯利康的时候），就进入了中国——比在北京成立第一家外资企业在华研发基地的诺和诺德还要早。1999年，瑞典公司Astra AB和英国公司Zeneca合并，阿斯利康正式成型。2001年，阿斯利康位于中国无锡的工厂就已正式投入运营，如今，已成为阿斯利康不可或缺的战略性供应基地。但时代变了，中美局势紧张加剧。MNC的反应未必自由。Pascal Soriot（图源：Financial Times）最近，Soriot表态，阿斯利康正在建立一个专注于中国市场的供应链，以尽量使产品供应不受拜登政府新增关税的影响。阿斯利康正在进一步投资位于中国青岛的工厂，该工厂供应用于治疗哮喘和其他疾病的吸入产品，供应产品仅销往中国和新兴市场。同时，这家巨头将在新加坡开设一家价值15亿美元的工厂，专门用于生产ADC癌症药物。Soriot还表示，对于此前以中国为重点的一系列交易充满信心。其中包括以12亿美元收购亘喜生物及其CD19双靶向自体CAR-T，以及2400万美元首付款拿下的祐森健恒的小分子药物UA022全球独家授权，还有近期1900万美元首付款拿下的和铂医药子公司诺纳生物临床前单抗项目授权。阿斯利康明显对细胞疗法和放射性配体疗法寄予厚望。近几个月来，已斥资近50亿美元收购了四家相关公司。Pascal Soriot公开表示，他们已经瞄准中国在新兴赛道的创新优势，以及尝试利用目前CGT领域的监管政策——IIT，加速阿斯利康的进程。参考文献：1.Pascal Soriot on his rise to become CEO of AstraZeneca；Financial Times2.《哈佛商业评论》3.The onetime Parisian street fighter who gave his company purpose；Financial Times4.AstraZeneca shareholders urged to oppose pay plan for CEO Soriot；Financial Times5.Disputes leave AstraZeneca boss with chronic vaccine headache；Financial Times6.Pharma of the Year: AstraZeneca；BioPharma Dive更多优质内容，欢迎关注↓↓↓

Rare disease charity PTEN Research Foundation welcomes two new senior leaders from the pharmaceutical industry, Professor Sir Mene Pangalos and Dr Donald Ogilvie to the Foundation’s Scientific Advisory Board (SAB). By strengthening its scientific oversight, the Foundation hopes to further progress and accelerate its mission to fund and facilitate research that will lead to better treatments and improved outcomes for people with PTEN Hamartoma Tumour Syndrome (PHTS). CHELTENHAM, England--(BUSINESS WIRE)-- PTEN Research Foundation, a charity which funds and facilitates research with the aim of developing new and better treatments for the rare disease PTEN Hamartoma Tumour Syndrome (PHTS), today announced that it has further strengthened its scientific oversight of activities with two new senior leaders, Dr Donald Ogilvie and Prof Sir Mene Pangalos, joining the Foundation’s Scientific Advisory Board (SAB). This press release features multimedia. View the full release here: Prof Sir Menelas (Mene) Pangalos DSc PhD FRSB FMedSci HonFBPhS FRS (Photo: Business Wire) “We are honoured that two such senior leaders with a wealth of drug development experience have agreed to join the Foundation’s Scientific Advisory Board,” said Thomas Pepper, Chief Executive of PTEN Research Foundation. “The SAB has a critical role in steering the Foundation’s scientific strategy and we continue to be privileged that senior leaders from pharma and biotech, as well as academic physicians and scientists with a deep knowledge of PHTS, have been willing to join the Board and guide the Foundation’s mission.” PHTS is a condition caused by an alteration in the PTEN gene. Such an alteration, which may be inherited from the mother or father, or occur spontaneously during embryonic development, can affect multiple organs and result in a variety of symptoms. These include macrocephaly (enlarged head circumference), learning difficulties, autism spectrum disorder, vascular anomalies (abnormal growth of the blood vessels), gastrointestinal polyps (growths in the gut), and hamartomas (benign lesions of the skin and other tissues). In addition, people with PHTS have a significantly increased risk of developing cancer of the breast, thyroid and endometrium (lining of the womb). Notes for Editors About Dr Donald Ogilvie MA DPhil Donald is an independent scientific consultant providing expert advice on cancer drug discovery to academic, industrial, and venture capital organisations. Donald obtained an MA in Biochemistry at the University of Oxford, UK, in 1980, before working at the John Radcliffe Hospital, Oxford, for eight years on the role of proteases in cancer, then on inherited connective tissue disorders. The latter was the basis of his DPhil degree. In 1988, Donald joined ICI which subsequently became Zeneca then AstraZeneca. For most of his twenty-year career in the pharmaceutical industry, he worked on cancer drug discovery and early clinical development projects. He was directly responsible for the delivery of ten novel cancer development compounds, several of which have progressed to phase II & III clinical trials and two, so far, to regulatory approval. Between 2009 and 2017, Donald set up and led the academic Drug Discovery Unit at the Cancer Research UK Manchester Institute (University of Manchester, UK). Under his leadership, the team built a drug discovery infrastructure and a leading cancer project portfolio. During this period, three projects, including one with a development compound, were successfully licensed to downstream partners. Donald is a co-author on more than ninety peer-reviewed academic publications. About Prof Sir Menelas (Mene) Pangalos DSc PhD FRSB FMedSci HonFBPhS FRS Until Spring 2024 Mene held the role of Executive Vice President, Research and Development at AstraZeneca being responsible for R&D from discovery through to late-stage development covering Cardiovascular, Renal, Metabolism, Respiratory, Immunology, Microbial Science and Neuroscience areas. Prior to this, he served as Executive Vice-President of AstraZeneca’s Innovative Medicines & Early Development Biotech Unit and Global Business Development. During his time with AstraZeneca, Mene led the transformation of R&D productivity through the development and implementation of the “5R” framework resulting in a greater than four-fold increase in success rates compared to industry averages. In parallel, he has championed an open approach to working with academic and other external partners, changing the nature of academic-industry collaboration. In addition, Mene led and oversaw AstraZeneca’s R&D response to COVID-19; maintaining existing clinical trials and delivery of medicines to patients, responding to the UK government’s call for supporting its national testing effort, and discovering and developing new preventative and treatment approaches to the disease. This work involved partnering with Oxford University in the global development of a vaccine and ensuring broad and equitable access at no profit during the pandemic, the discovery and development of a long-acting antibody combination for those who could not be vaccinated, as well as exploring AstraZeneca’s existing portfolio as potential treatment options against the disease. The team were awarded the Copley Medal by the Royal Society in 2023. Mene previously held senior R&D roles at Wyeth and GSK. Mene holds Honorary Doctorates from Glasgow University and Imperial College, London, is a Fellow of the Academy of Medical Sciences, the Royal Society of Biology and Clare Hall, University of Cambridge and is a Visiting Professor at The Wolfson Centre at King’s College. He co-chairs the UK Life Sciences Council Expert Group on Innovation, Clinical Research and Data and is a member of the Life Sciences Industrial Strategy Implementation Board. He is also on the Boards of The Francis Crick Institute and The Judge Business School, Cambridge University, and is a member of the Life Sciences Vision Advisory Group. Mene was awarded the 2019 Prix Galien Medal, Greece for his scientific research and named Executive of the Year at the 2019 Scrip Awards. In 2019, Mene was awarded the honour of a Knighthood by Queen Elizabeth II for his services to UK science. In 2021 Mene was awarded an Honorary Fellowship of the British Pharmacological Society. In 2022 Mene was elected as a Fellow of The Royal Society and an honorary professor of Cambridge University Medical School. About PHTS PHTS is a rare genetic disorder caused by alteration in the PTEN (phosphatase and tensin homolog) gene that results in a variety of symptoms in multiple organs. These alterations, which may be inherited from the mother or father or occur spontaneously during embryonic development, can result in a variety of symptoms. These include macrocephaly (enlarged head circumference), learning difficulties, autism spectrum disorder, vascular anomalies (abnormal growth of the blood vessels), gastrointestinal polyps (growths in the gut), and hamartomas (benign lesions of the skin and other tissues). In addition, people with PHTS have an increased lifetime risk of developing cancer, particularly breast, thyroid, and endometrial (lining of the womb) cancer. Estimating the prevalence of PHTS is complex due to the varied presentations and diagnoses patients can have and because some features (e.g. benign breast lesions) also commonly occur in the general population. The prevalence of PHTS is estimated to be about 1 in 200,000, although this is likely to be an underestimate. There are currently no health authority-approved treatments specific to PHTS, and clinical management consists mainly of cancer surveillance and supportive care. The need for cancer surveillance and lifelong supportive care places a high burden on affected individuals, their families and on healthcare systems. About PTEN Research Foundation PTEN Research Foundation was established as a charity under English law in 2017 (charity number 1173589). The Foundation’s mission is to fund and facilitate research that will lead to new and better treatments for individuals with PHTS. PTEN Research Foundation aims to have transformative therapies available as treatment options for people with PHTS within 10 years. The Foundation’s strategy is centred on the generation of preclinical and clinical evidence that will enable the Foundation, and others (both academic collaborators and industry), to develop treatment options for people with PHTS.

An aerial shot of the AstraZeneca HQ in Cambridge, England. As it's announced AstraZeneca's CEO Pascal Soriot's package could rise by as much as US$24mn we explore the history of the UK's most valuable business AstraZeneca is the biggest UK-based business, with a market capitalisation of US$228bn. This week the Anglo-Swedish company approved a pay policy that will see CEO Pascal Soriot's package rise by as much as US$24mn. This will take his maximum annual bonus for 2024 to three times his base salary, and make him eligible for long-term performance-based share awards worth as much as 8.5 times his salary. It makes Soriot one of the best-paid executives among London's blue-chip FTSE 100 companies. AstraZeneca says the pay policy changes are necessary to increase competitiveness against its European peers and to “recognise leadership's critical role in achieving its long-term targets”. In the wake of the pay deal, we take a look at AstraZeneca – its history and some of the medical milestones it has achieved in that time. The history of AstraZeneca AstraZeneca, was founded in 1999, through the merger of Astra AB and Zeneca Group. Astra AB was a Swedish pharmaceutical company that was founded in 1913 by pharmacist Gustaf Dyrssen. Initially it produced dental and veterinary products, but later shifted focus to pharmaceuticals. In the 1950s, Astra expanded globally, entering the US market in the 1980s. Among its most important medicines were Nexium (esomeprazole), a proton-pump inhibitor used to treat gastroesophageal reflux disease and peptic ulcers, and Symbicort (budesonide/formoterol), a combination inhaler used to manage asthma and chronic obstructive pulmonary disease. Zeneca Group was established in 1993 through the demerger of Imperial Chemical Industries (ICI), which was focused on pharmaceuticals, agrochemicals and specialty chemicals. Its roots go back to 1923, when ICI formed its pharmaceutical division, and Zeneca grew through a series of acquisitions and research breakthroughs – notably cancer treatments including tamoxifen, used in the treatment of hormone receptor-positive breast cancer,  and Casodex (bicalutamide), used to treat prostate cancer. The merger between Astra AB and Zeneca The $33bn merger between the two companies in 1999 was a strategic move to create a stronger global presence and to bolster research and development capabilities. Astra's expertise in cardiovascular and gastrointestinal drugs was complemented by Zeneca's strengths in oncology and respiratory medicines, and the merger has seen AstraZeneca go on to become a leader in innovative healthcare solutions. Some of AstraZeneca’s landmark treatments since 1999 ‘Blockbuster drugs Crestor (rosuvastatin) for cholesterol management, Seroquel (quetiapine) for schizophrenia and bipolar disorder and Nexium (esomeprazole) for acid reflux. Important lung cancer treatments, such as Iressa (gefitinib), Faslodex (fulvestrant) and Tagrisso (osimertinib). Extensive R&D in areas such as cardiovascular diseases, respiratory conditions and oncology. The Oxford-AstraZeneca COVID-19 vaccine One of AstraZeneca’s most notable medical achievement was partnering with the University of Oxford to develop a COVID-19 vaccine known as AZD1222, or the Oxford-AstraZeneca vaccine. The company’s role in this was pivotal, and included funding, manufacturing and distributing the vaccine. It also played a key role in conducting clinical trials, obtaining regulatory approvals, and scaling up production to meet global demand. The vaccine was based on a viral vector platform, a technique that uses a modified virus – or vector virus – as a treatment delivery mechanism. The Oxford-AstraZeneca vaccine was approved for emergency use in January 2021, shortly after approval was received by the Pfizer-BioNTech and Moderna vaccines (both December 2020). AstraZeneca provided the vaccine on a not-for-profit basis during the pandemic, and collaborated with various organisations to ensure equitable access to vaccines globally.