The pharmaceutical company received the accolade at an event held by the Institute’s Corporate Finance Faculty at Lincoln’s Inn in London yesterday. The event also featured speakers including Andrew Griffith MP, an ICAEW member and Economic Secretary to the Treasury, and Stephen Welton, Chair of the British Business Bank.
The award was presented to AstraZeneca by Alistair Brew, Chair of the Corporate Finance Faculty, and Andrew Rutherford from Arbuthnot.
AstraZeneca was given the award for the value it added for shareholders through its effective M&A strategy, following the acquisitions of TeneoTwo, Neogene Therapeutics and CinCor Pharma last year.
The annual prize recognises a London-listed company for its successful use of M&A to increase growth and shareholder value and outperform the market, using a methodology devised by the ICAEW Corporate Finance Faculty in partnership with Bayes Business School.
David Petrie, ICAEW Head of Corporate Finance, said:
“AstraZeneca’s strategic acquisitions last year not only demonstrates how having an effective M&A strategy can add value, but can save thousands of peoples’ lives as well, so I congratulate them on their well-deserved victory.
“It is fantastic to see a company with strong roots in Britain at the forefront of medical research. AstraZeneca’s achievements highlight how effective capital markets are vital when it comes to accessing funding and building a successful acquisition strategy.
“Additionally, given the crucial role of Andrew Griffiths in driving forward the Edinburgh Reforms, which aim to increase the attractiveness of the City as a place to do business, we were pleased to have the Minister attend and address the Faculty. We’re firmly behind measures from the government designed to preserve and develop the UK’s capital markets and to ensure London remains a global leader in financial services.”
Shaun Grady, Senior Vice President, Business Development, at AstraZeneca, said:
“Successful deal making in life sciences relies on high performing teams executing with pace and purpose on a clear, coherent strategy. This prestigious award from the ICAEW recognises that collaboration across multiple disciplines in our deal teams and a collective drive to follow the science and undertake smart decision-making are essential ingredients to advance innovation and ultimately improve health outcomes for patients.”
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