Today´s results are shockingly bad, and hold no prospect of better days ahead. The risks that are now precipitating into profit declines and a destruction in shareholder value were fully visible ten or more years ago. A promising pipeline grossly mismanaged. Poor acquisition choices, that missed the point, when obviously better candidates were available. Missing the opportunity to resolve the issues with Merck (read the contingent liabilities note in the 20/F) when Vioxx left Merck vulnerable. #$%$ managers who talk incessantly about people, performance, motivation, process & technology, but whose actions verge on the psychopathic. Fast forward in finance? How apt to choose a slogan based on the cassette recorder when that technology was already obsolete! McKillop, Brennan and Symonds need to hang their heads in shame for the catastrophe that their hubris, incompetence and indecision is now visiting on a once great company. AstraZeneca needed a truly visionary leader, but instead appointed men with brains of mud and feet of clay. Two have already had the truth of their capability properly judged by the public. One to go, and his day of reckoning can´t be too far away - the Americans weren´t fooled, and the Swiss are not stupid.