ARTICLE | Company News
AstraZeneca to spin out anti-infectives unit
February 28, 2015 2:37 AM UTC
AstraZeneca plc (LSE:AZN; NYSE:AZN) said it will spin out its anti-infectives unit into a subsidiary company based in Waltham, Mass. AZ will invest $40 million in the subsidiary and expects it to be fully operational in early May.
The as-yet-unnamed subsidiary will have 20-30 staff, including employees from AZ's Innovative Medicines and Early Development (iMED) unit. Manos Perros, head of infection in the iMED unit, will lead the subsidiary's formation and staffing. ...