Credit Suisse CEO Brady Dougan Urged to Resign and Astrazeneca Announces MedImmune Results of phase IIB studies
Credit Suisse Group AG (NYSE: CS) CEO Brady Dougan is said to be under pressure from Swiss lawmakers to resign. According to Reuters, the bank has helped wealth Americans dodge taxes. This could cost Credit Suisse Group up to $1.6 billion to resolve. Dougan is first in line to take the fall after the company landed in a complex U.S. Department of Justice investigation. Criminal charges could be pressed.
Credit Suisse Group AG, together with its subsidiaries, provides various financial services to private, corporate, institutional, and government clients, as well as high-net-worth individuals worldwide. The company operates in two segments: Private Banking and Wealth Management, and Investment Banking. The Private Banking and Wealth Management segment offers a range of advice and financial solutions, including structured advisory to high-net-worth clients; banking products, such as lending, cash and liquidity management, trade finance, ship and aviation finance, corporate finance, investment solutions, custody, and asset and liability management; and investment solutions and services to pension funds, governments, foundations and endowments, corporations, and individuals.
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AstraZeneca PLC (NYSE: AZN) reported that two key molecules in MedImmune’s Respiratory, Inflammation and Autoimmune portfolio, mavrilimumab and sifalimumab, have met their primary endpoints in respective Phase II studies. Mavrilimumab is an investigational monoclonal antibody that inhibits a key pathway in the development of rheumatoid arthritis. Phase IIb study produced top-line results and achieved its primary endpoints. MedImmune is a wholly owned subsidiary of AstraZeneca.
AstraZeneca PLC is engaged in the discovery, development, and commercialization of medicines for cardiovascular and metabolic disease; oncology; respiratory, inflammation, and autoimmunity; and infection, neuroscience, and gastrointestinal disease areas worldwide. Its principal products include Crestor for the treatment of dyslipidaemia and hypercholesterolemia; Seloken/Toprol-XL for control of hypertension and for use in heart failure and angina; Iressa for non-small cell lung cancer; Faslodex for breast cancer in post-menopausal women; and Zoladex for prostate cancer, breast cancer, and certain benign gynaecological disorders.
Get more information on AstraZeneca PLC and free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/AZN
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