It has been the most boring statements for the Swedish part of big business in recent years. The image of the classic Swedish companies, which have long brought up a large part of our economy and our prosperity, have been painted in an all gråsvartare scale. It is partly a matter of major cutbacks and the relocation of production departments, and on a more casual trimming of everything from the controller perspective, regarded as superfluous.
AstraZeneca’s decision in a first stage investing equivalent to $ 285 million in a new plant, with the possibility of two further stages which would mean a total investment of $ 1 billion, is a trend. It shows that Sweden and Södertälje is competitive in this high-tech niche.
There are probably many that would reflect in the glory of Monday’s delight vengeance. Among them are Astra Zeneca Chairman Leif Johansson, who played “lead guitar” when Södertälje other companies heirloom Scania was turned into a German subsidiary. There are also Wallenberg Årnäs Investor, who held the second fiddle in the same shop and criticized for his handling of AstraZeneca. And so, finally, the current government which has hardly received any of grades in its entrepreneurial kindness, either.
There are more like had wanted to have this facility and that can offer very favorable terms. Ireland is a big country of production, not least for American pharmaceutical companies. Cultural and legal factors usually cited to Ireland’s advantage, but also the very favorable tax lay-ups, like the “Double Irish”, which has meant that companies like Pfizer and Merck have not paid any tax for its European profits. AstraZeneca and other pharmaceutical companies, has also moved much of its production to countries like India and China.
But the Irish treasure lay-ups has been questioned loudly and many pharmaceutical companies, including Astra Zeneca, has moved production. As regards the latter, the environmental and legal problems a factor, and not least the realization that their own knowledge of the preparation and production processes is a critical competence.
Sweden have been at the forefront when it comes to just the skills, but after the merger with Zeneca, there are critics who argued that AstraZeneca did everything to kill the Swedish engineering culture that brought up the Astra. The purchasing organization had in place a central role, which meant that all internal competence in principle to competition. The effect was the outsourcing of various functions and an increasing consultant dependence.
But AstraZeneca two production facilities in Södertälje, especially the large plant in Gärtuna, has managed to defend its position in the Group. Industry People describe that there has been a significant change in recent years, with a significantly increased self-confidence of the employees. There has been a realization that they are good at what they do and that they are cost-beats most competitors on the fingers.
However, the decision to build a new plant is also a clear sign that AstraZeneca has gained increased self-esteem during the CEO Pascal Soriot, who took office in 2012. While the former head David Brennan tried to counter threats from the major patent outputs with acquisitions and financial tricks, like large share repurchases, as has Soriot focused on what are the company’s core and actual extistensberättigande – research to develop new drugs.
Soriot describes investment in Gärtuna as strategic. And although managers are usually able to take to the big words, so even a layman to see this. The company shows that they have confidence in their own research portfolio, not least the acquired MedImmune, which criticized the price tag and the lack of commercial success.
With the new large state of the art facility, in its first phase focused on preparation used in the clinical tests, also strengthens AstraZeneca’s position as attractive partner for smaller niche companies that focused on protein-based drugs.
No comments:
Post a Comment