Marc Dunoyer to replace Simon Lowth as AstraZeneca’s CFO

AstraZenecaSwedish pharma giant AstraZeneca has said that Marc Dunoyer, who had joined from rival GlaxoSmithKline in June, will be promoted to the post of the Chief Financial Officer.

Marc Dunoyer will replace Simon Lowth as the CFO of the company, which has been facing falling profits and an investigation in the US over a clinical trial. The company said that its operating profits fell 29 per cent during the third quarter of the year. Dunoyer will take over the company with a set of accounts that are facing difficult market conditions.

The company said that its revenues fell to $6.25 billion in the July to September period. The level is 4 per cent lower on a constant exchange rate. The core operating profits fell to$2.03 billion during the quarter from $2.92bn recorded during the same quarter of the previous year.

Chief executive Pascal Soriot said that "loss of exclusivity for several key brands" affected that profitability. He expressed optimism over confident over new products emerging from its pipeline soon and expanding its profitability. The company is planning to cooperate with the Us authorities in the case over its clinical trial.