July 12 (Bloomberg) -- AstraZeneca Plc aims to advance at least eight medicines into late-stage tests within three years, one of its top research and development executives said today.
“We’ve set our R&D organization a goal of delivering eight to 11 Phase 3 projects,” Menelas N. Pangalos, executive vice president of the company’s Innovative Medicine Research Units, told reporters at a briefing in London.
“That’s more than we’ve ever done and that’s going to make us more competitive in terms of our peer group,” Pangalos said.
The company also made two announcements on early-stage research today. AstraZeneca bought a portfolio of potential nervous-system disorder treatments from Link Medicine Corp., and said it will participate in an alliance of four academic laboratories studying a risk factor for Alzheimer’s disease.
London-based AstraZeneca is the U.K.’s second-biggest drugmaker.