19.03.2013 - British-Swedish drugmaker AstraZeneca has announced to restructure its operations, axing 1,600 jobs and relocating 2,500 employees.
It is the third time in three years that the British-Swedish pharma company is going to restructure its R&D. The company said it will concentrate its R&D in the UK. A third of the US-$1.4bn restructuring cost will be invested in a new R&D complex in the UK, unifying the company’s small molecule and biologics research under one roof in Cambridge. About 1,600 researchers will be relocated from Alderley Park to the new site. By 2016, AstraZeneca will remove its current headquarters from London to the new Cambridge site. Steve Bates, chief of the British Industry Association applauded the decision; "I am pleased that AstraZeneca has seen the value of the UK as a global hub for bioscience and we welcome its £330 million investment in consolidating its R&D activities and its global headquarters in Cambridge.“
In the US, the company will move its Global Medicines Development Group from Wilmington to Gaithersburg, the headquarters of its biologics subsidiary MedImmune. The company announced it will axe 650 jobs in the US. Small molecule research in Sweden will remain. With the measures the drug giant aims at improving its R&D productivity, leaving three global R&D centres.
05.03.2015 The IPO wave in the biotech sector shows no signs of slowing down. An Irish life sciences fund set up by former Elan executives plans to raise €325m with its IPO, whilst Summit Therapeutics has announced its IPO pricing of US$34m on Nasdaq.
03.03.2015 After weeks of speculation, AstraZeneca has announced its plans to spin out its early-stage antibiotic R&D. The decision marks the company’s aims to “sharpen its focus on three main therapy areas”.