News

AstraZeneca restructures
Enlarge image

BusinessUKSweden

AstraZeneca restructures

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.

© eurobiotechnews.eu/tg

http://www.european-biotechnology-news.com/news/news/2013-01/astrazeneca-restructures.html

DiabetesFrance

01.09.2015 Sanofi is partnering up with Google’s life sciences team with an ambitious goal: to change the face of diabetes management.

M&ASwitzerlandFrance

31.08.2015 In order to boost its active cosmetic ingredients business, the Swiss flavour and fragrance giant Givaudan has acquired Volketswil-based Induchem Holding and all its subsidiaries.

BioeconomyEU

26.08.2015 In its second call for proposals, the Bio-Based Industries Joint Undertaking has earmarked €106m for the research and development of useful bio-based products.

OncologyNorway

25.08.2015 Oslo Cancer Cluster is inaugurating its NOK1bn (€107m) Innovation Park. None other than Norwegian prime minister Erna Solberg officially opened the doors to the research park on August 24th.

LicensingUKSwitzerland

21.08.2015 Novartis Pharma AG has secured all remaining rights to antibody hopeful ofatumumab. Seller GlaxoSmithKline is set to receive up to US$1bn (€919m) for the treatment for MS and other autoimmune indications.

LicensingDenmark

18.08.2015 Danish Novo Nordisk is climbing on the antibody therapeutics bandwagon in a US$500m licensing agreement with antibody-specialist Genmab.

M&ASwitzerland

13.08.2015 Roche is stepping up its commitment in the fight against drug resistant “superbugs” with its takeover of US diagnostics play Geneweave, for up to US$425m.

M&AUK

11.08.2015 Biotech bug controllers Oxitec has been bought by US biotech Intrexon Corporation for $160m (€145m). The Oxford University spin-out specialises in environmentally friendly technology to control pests such as mosquitoes, which cause dengue fever and other diseases.

Research and DevelopmentFranceGermany

07.08.2015 In a deal worth more than €300m, Sanofi has partnered up with German drug discovery and development company Evotec in order to develop beta cell-modulating diabetes therapies.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • BIOTECH PHARMACON (N)16.80 NOK17.07%
  • ALMIRALL (E)17.26 EUR4.61%
  • EUROFINS SCIENTIFIC (F)301.96 EUR4.16%

FLOP

  • BIOTIE THERAPEUTICS (FI)0.20 EUR-9.09%
  • DBV TECHNOLOGIES (F)67.75 EUR-7.57%
  • CO.DON (D)2.50 EUR-7.41%

TOP

  • KARO BIO (S)39.30 SEK2371.7%
  • BIOTECH PHARMACON (N)16.80 NOK77.8%
  • TRANSGENE (F)4.92 EUR71.4%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-50.0%
  • THROMBOGENICS (B)2.86 EUR-43.3%
  • NEUROVIVE PHARMACEUTICAL AB (S)13.00 SEK-41.2%

TOP

  • KARO BIO (S)39.30 SEK4692.7%
  • ADOCIA (F)82.29 EUR384.9%
  • VERONA PHARMA (UK)5.00 GBP316.7%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-85.7%
  • EVOCUTIS (UK)0.18 GBP-81.2%
  • NEUROVIVE PHARMACEUTICAL AB (S)13.00 SEK-80.1%

No liability assumed, Date: 01.09.2015