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

PoliticsSwitzerland

23.10.2014 Just one day before its planned initial listing, Swiss Molecular Partners has cancelled its IPO. The reason: "unfavourable market conditions".

PoliticsEU

23.10.2014 Jean-Claude Juncker can breathe a sigh of relief as MEPs voted “yes” by a large majority to his team of European Union Commissioners. Previous to the vote, Juncker had shifted the EMA back to the health commissioner in response to protests.

FinancingFrance

21.10.2014 Yet another European company is looking for money on the US stock exchange – French DBV Technologies SA is all set up for its secondary listing on NASDAQ. The French biotech company hopes to rake in US$98m for its peanut allergy patches.

FinancingDenmark

18.10.2014 After raising US$220.5m (€172m) with its IPO, fast Forward Pharma’s lucky streak hits an obstacle on the road to success with shares falling 17% on its first day of trading.

M&AUKItaly

17.10.2014 Abandoned at the altar: Abbvie has dropped plans to acquire UK’s Shire following new US tax rules. This puts a stop to one of the biggest pharma mergers planned this year.

FinancingUKBelgium

15.10.2014 Bicycle Therapeutics wins €25m backing by major pharma venture capitalists for the development of a new class of oncology drugs.

FinancingGermanySwitzerlandNetherlands

13.10.2014 Biotechnology IPOs are back in fashion – German Probiodrug AG wants to raise €32m with its IPO, whilst Swiss Molecular Partners AG hopes the launch of its IPO will gain a revenue of €145m.

BusinessIreland

10.10.2014 Actavis has announced plans to merge with American pharma company Durata - a move that will strengthen their infectious diseases portfolio.

RegulationEU

07.10.2014 In an unprecedented move, the European Medicines Agency has approved a system allowing the future analysis of clinical trial data.

FinanceNetherlandsEU

06.10.2014 Another fund from the Netherlands has raised €92m in its first close and will invest the money in companies developing innovative therapeutics, medical devices and diagnostics.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • 4SC0.97 EUR0.00%
  • ACTELION112.40 CHF0.00%
  • ADDEX3.30 CHF0.00%

FLOP

  • CYTOTOOLS31.45 EUR-0.47%
  • 4SC0.97 EUR0.00%
  • ACTELION112.40 CHF0.00%

TOP

  • BIOFRONTERA2.90 EUR31.8%
  • VITA 344.32 EUR7.2%
  • BB BIOTECH157.70 EUR6.1%

FLOP

  • PAION2.24 EUR-27.7%
  • CYTOS0.16 CHF-23.8%
  • MAGFORCE5.90 EUR-16.9%

TOP

  • SANTHERA85.50 CHF2288.3%
  • CO.DON2.75 EUR183.5%
  • PAION2.24 EUR143.5%

FLOP

  • CYTOS0.16 CHF-95.9%
  • 4SC0.97 EUR-44.3%
  • THERAMETRICS0.08 CHF-42.9%

No liability assumed, Date: 24.10.2014