AstraZeneca slumps on report CEO is heading to Teva

London

SHARES in AstraZeneca fell more than 5 per cent on Thursday after the company declined to deny a media report that chief executive Pascal Soriot was about to defect to Israel-based Teva Pharmaceutical Industries.

Mr Soriot, who has led the Anglo- Swedish company since 2012, met Teva's search committee and its chairman to express his agreement to serve as its next CEO, the Calcalist financial news website said late on Wednesday.

Both companies said they did not comment on market rumours.

Teva was left without a permanent CEO in February after Erez Vigodman stepped down, leaving new management to try to restore confidence in the world's biggest generic drugmaker after a series of missteps. Chief financial officer Eyal Desheh also resigned at the end of …