AstraZeneca eyes already marketed drugs

By Ben Hirschler and Bill Berkrot

NEW YORK (Reuters) - AstraZeneca Plc (AZN.L: Quote, Profile, Research, Stock Buzz), hit last month by the failure of its experimental stroke drug, is looking to acquire already-marketed products to boost its business, Chief Executive David Brennan said on Wednesday.

That's in addition to the company's ongoing efforts to sign licensing deals for medicines in development, Brennan said.

"We are looking for in-market opportunities as well. There is definitely scope for it," Brennan told the Reuters Health Summit in New York.

Brennan said most of the company's future products would still come from internal research and development and licensing deals. But to plug the gap in the company's portfolio in the near-term, AstraZeneca would look to buy established products.

"We can afford to do bigger deals," he said. "When we see them, we'll take them."

Brennan reiterated that the company should grow sales in line with the pharmaceutical market over the next five years, but noted that independent forecasts for the industry have come down to around 5 to 7 percent from the 6-to-8 percent growth rate seen in June.

"I wouldn't say 6-to-8 or 5-to-7, because I think it will probably change again in the next few years," he said. "I don't see any reason why AstraZeneca shouldn't be growing at the market rate."

ATTAINABLE GROWTH?  Continued...