3 days ago
By Maggie Fick
LONDON, July 24 (Reuters) - AstraZeneca's long-time CEO Pascal Soriot has rarely put a foot wrong. The company's shares have more that quadrupled in price during his 14-year tenure, soaring above the wider FTSE 100 index and main British rival GSK.
AstraZeneca's huge diversity and number of drugs on the market and success in clinical trials in different therapeutic areas set it apart from peers, giving Soriot the golden touch in the eyes of investors.
Now, though, investors have some cause for concern after news this month of the unexpected failure of nerve drug Wainua in a late-stage heart disease trial, which hammered the shares and turned attention on the firm's drug R&D pipeline.
AstraZeneca's shares are down 10% this year and trail GSK and the wider London stock index over two years, with attention now on two other late-stage trials that could shape confidence in AstraZeneca's research engine and long-term growth outlook.
#soriot
LONDON, July 24 (Reuters) - AstraZeneca's long-time CEO Pascal Soriot has rarely put a foot wrong. The company's shares have more that quadrupled in price during his 14-year tenure, soaring above the wider FTSE 100 index and main British rival GSK.
AstraZeneca's huge diversity and number of drugs on the market and success in clinical trials in different therapeutic areas set it apart from peers, giving Soriot the golden touch in the eyes of investors.
Now, though, investors have some cause for concern after news this month of the unexpected failure of nerve drug Wainua in a late-stage heart disease trial, which hammered the shares and turned attention on the firm's drug R&D pipeline.
AstraZeneca's shares are down 10% this year and trail GSK and the wider London stock index over two years, with attention now on two other late-stage trials that could shape confidence in AstraZeneca's research engine and long-term growth outlook.
#soriot
12 days ago
Harris Oakmark recently released its second-quarter 2026 investor letter for the "Oakmark Global Fund". A copy of the letter can be downloaded here. It is a non-diversified fund that focuses on long-term capital appreciation by investing in common stocks of U.S. and non-U.S. companies. In the second quarter, the fund (Investor Class) delivered a return of 7.89%, lagging the benchmark, the MSCI World Index's 13.76% return. Energy and industrials were the top performance contributors at the sector level, while health care and consumer discretionary detracted from performance. AI remains a key market theme. The firm focuses on evaluating companies based on their competitive advantages, long-term cash flow potential, and valuation, not predictions. In addition, you can check the Fund's top five holdings to determine its best picks for 2026.
In its Q2 2026 investor letter, Oakmark Global Fund highlighted AstraZeneca PLC (NYSE:AZN) as a newly added position. AstraZeneca PLC (NYSE:AZN) is a leading multinational biopharmaceutical company focusing on the development and discovery of prescription medicines. On July 15, 2026, AstraZeneca PLC (NYSE:AZN) closed at $168.37 per share, reflecting a market capitalization of $261.12 billion. AstraZeneca PLC (NYSE:AZN) posted a one-month return of -3.75%, while its shares gained 18.55% over the past 52 weeks.
Oakmark Global Fund stated the following regarding AstraZeneca PLC (NYSE:AZN) in its Q2 2026 investor update:
"AstraZeneca PLC (NYSE:AZN) is one of the largest pharmaceutical companies in the world. It researches, develops and commercializes prescription medicines designed to treat lung and breast cancers, cardiorenal diseases, respiratory problems and other rare diseases. We believe AstraZeneca's robust on-market portfolio and sector-leading late-stage pipeline provide an attractive growth profile. Moreover, we believe the company can build on its long track record of a productive research and development program, thanks to its innovative culture and exceptional management team. In our view, CEO Pascal Soriot is one of the industry's best executives, and he has cultivated a deep bench of talent, a robust decision-making framework and a differentiated R&D culture that should drive strong growth for years to come, in our view. Recent concerns over United States regulations have overshadowed AstraZeneca's merits and weighed on the broader pharmaceutical industry. This opened a window for us to purchase shares of this company at a price well below our estimate of its intrinsic value."
In its Q2 2026 investor letter, Oakmark Global Fund highlighted AstraZeneca PLC (NYSE:AZN) as a newly added position. AstraZeneca PLC (NYSE:AZN) is a leading multinational biopharmaceutical company focusing on the development and discovery of prescription medicines. On July 15, 2026, AstraZeneca PLC (NYSE:AZN) closed at $168.37 per share, reflecting a market capitalization of $261.12 billion. AstraZeneca PLC (NYSE:AZN) posted a one-month return of -3.75%, while its shares gained 18.55% over the past 52 weeks.
Oakmark Global Fund stated the following regarding AstraZeneca PLC (NYSE:AZN) in its Q2 2026 investor update:
"AstraZeneca PLC (NYSE:AZN) is one of the largest pharmaceutical companies in the world. It researches, develops and commercializes prescription medicines designed to treat lung and breast cancers, cardiorenal diseases, respiratory problems and other rare diseases. We believe AstraZeneca's robust on-market portfolio and sector-leading late-stage pipeline provide an attractive growth profile. Moreover, we believe the company can build on its long track record of a productive research and development program, thanks to its innovative culture and exceptional management team. In our view, CEO Pascal Soriot is one of the industry's best executives, and he has cultivated a deep bench of talent, a robust decision-making framework and a differentiated R&D culture that should drive strong growth for years to come, in our view. Recent concerns over United States regulations have overshadowed AstraZeneca's merits and weighed on the broader pharmaceutical industry. This opened a window for us to purchase shares of this company at a price well below our estimate of its intrinsic value."
