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Astra CEO Not Worried by Pressures to Drop Prices

AstraZeneca Chief Executive Officer Pascal Soriot told the audience at the J.P. Morgan Healthcare Conference in San Francisco, CA, that he is not worried about predictions that payers such as Express Scripts will be ramping up the pressure on global pharmaceutical companies to reduce drug prices.  According to Soriot, AstraZeneca “has built pricing pressure into its plans.”  Current projections put revenue at $45 billion by 2023, a jump from the consensus numbers, which predicted  the company earning $29 billion by 2021.

According to Soriot, AstraZeneca saw sales grow 100 percent through the third quarter of 2013, which is reflective of the company having the number one branded anti-platelet drug used in hospitals.