Since November 2003, AZ has owned 19.2 per cent of CAT, and the two companies work together on projects. In a deal confirmed this week, AZ is now to take full control of the company.
Hogarth managing partner Chris Matthews told PRWeek: ‘This deal is attractive to AZ because CAT will become a semi-autonomous unit within AstraZeneca, and will be kept as a centre for research.’
After the deal is completed, CAT will no longer be a public company. Therefore Hogarth’s job will be to inform scientific and business audiences of the company’s progress, particularly because CAT plans to continue its collaboration with various organisations.
Weber Shandwick worked with CAT for four years until April last year.