AZN axes 7,300 jobs, forecasts “challenging” 2012: http://www.reuters.com/article/2012/02/02/astrazeneca-idUSL5E8D227D20120202 The Anglo-Swedish drugmaker faces loss of exclusivity on many of its top-selling drugs over the next five years and has few obvious replacements in its pipeline. The antipsychotic medicine Seroquel, its second-biggest drug, will lose exclusivity in the United States in March and also goes off patent in European countries this year. As a result, Chief Executive David Brennan has been shrinking the business. "The further expected losses of market exclusivity make for a challenging 2012 outlook," he said. The lack of obvious replacements for products like Seroquel and heartburn treatment Nexium, as well as top-selling heart drug Crestor which goes off patent in 2016, has triggered speculation AstraZeneca may need to make a big acquisition. Following the poorly received purchase of MedImmune in 2007, the company has so far eschewed another large deal. But that strategy could be up for review… Has any drug/biotech company ever received less value in a $15B cash acquisition than what AZN got for buying MedImmune? I doubt it.