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AstraZeneca picks Baselga to lead oncology R&D in growth plan

Reuters 

(Reuters) - said on Monday it had hired to in oncology, an area where the British drugs firm is seeking to grow its business.

Baselga resigned as the of Center in September 2018 after and revealed that he had not disclosed millions of dollars in payments from

A for said that the validity of Baselga's research was not under question.

Baselga, 59, who acknowledged a failure to disclose his links to companies in his medical journal articles and at professional meetings, also resigned from the board of at the time.

"Those papers have been updated with the correct disclosure and he subsequently resigned from We think that has been dealt with. He corrected the papers and ... this is the next phase in his career," the said.

Baselga, who has helped develop therapies for more than 30 years, also worked as the of hematology/at Center and has been a at

also said it would create therapy area-focused research and development units, responsible for discovery through to late-stage development, for and and create commercial units for the two areas.

"We are entering what we expect will be a period of sustained growth for years to come, which is why we have decided to more closely align our R&D and commercial operations," AstraZeneca's Pascal Soriot, said.

Demand for AstraZeneca's new drugs -- especially those for cancer -- drove a return to sales growth in the third quarter and the drugmaker said in November it expects years of sustained improvement and rising profit margins.

Baselga was not immediately available for comment.

AstraZeneca shares were down 1.1 percent at 6,021 pence at 1344 GMT.

(Reporting by in Bengaluru and additional reporting by Arathy S Nair; editing by and Alexander Smith)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 07 2019. 20:01 IST
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