AstraZeneca Suspends Share Buyback Program

AstraZeneca has suspended its share buyback program, giving new chief executive Pascal Soriot more leeway to devise a strategy to return the British drugmaker to growth.

The company, which has suffered a string of clinical trial failures and patent expiries, said on Monday it was halting the program after buying back shares worth $2.3 billion of its initial target of $4.5 billion.

The company, however, maintained its core earnings target for the full year at between $6 and $6.30 per share.

Soriot, who was previously at rival Roche Holding, started at AstraZeneca on Monday.

"As I assume my new responsibilities at AstraZeneca, I believe this is a prudent step that maintains flexibility while the board and I complete the company's ongoing annual strategy update," he said in a statement.

An AstraZeneca spokeswoman said the board could decide to resume the buybacks or it could identify other opportunities for business investment, such as acquisitions or in its own pipeline.

"It's about maintaining some flexibility from a financial point of view," she said.

Analysts said when Soriot's appointment was announced in August that he could make significant changes, including reviewing the pipeline and doing more deals.

 

Virtual Event

Digitalization in the Chemical Industry
CHEManager Spotlight

Digitalization in the Chemical Industry

Save the Date: October 22, 2025
The event will be promoted to a combined audience of over 100,000 professionals across Europe through the CHEManager and CITplus networks.

Free Virtual Event

Vaccine Manufacturing
Bioprocess Forum

Vaccine Manufacturing

Join global experts and innovators for a two-day virtual event exploring the latest breakthroughs and best practices in vaccine manufacturing. Discover how new technologies and process innovations are shaping the future of vaccine production, safety, and scalability.

most read

Photo
22.04.2025 • News

BASF Divests Two Joint Ventures in China

BASF has divested its shares in the joint venture companies, BASF Markor Chemical Manufacturing (Xinjiang) Co., Ltd. and Markor Meiou Chemical (Xinjiang) Co., Ltd. in Korla, China, to Verde Chemical Singapore Pte. Ltd.

Photo
19.03.2025 • News

Arkema Launches Acrylic Acid Purification Project

Arkema has announced the launch of its Carat Project at its Carling site in France. This initiative aims to enhance the capabilities and sustainability of the facility, which specializes in producing acrylic monomers and superabsorbent polymers.