12:00 AM
Mar 25, 2013
 |  BC Week In Review  |  Company News  |  Other News

AstraZeneca pharmaceuticals news

This month, AstraZeneca announced two restructurings of its R&D and SG&A activities. Combined with 1,150 roles that remain on the chopping block from a restructuring announced in February 2012, AstraZeneca will collectively cut about 5,050 positions over 2013-16. The pharma estimates that the combined restructurings will lead to savings of about $800 million annually by 2016. The pharma employs more than 57,200 people worldwide.

Under the first restructuring announced in March, the pharma will restructure to consolidate its small molecule and biologics R&D activities into three locations by 2016 - Cambridge, U.K.; Molndal, Sweden; and Gaithersburg, Md. AstraZeneca will also transfer its corporate headquarters to Cambridge from its London office, which will close by 2016. The restructuring will lead to an estimated overall headcount reduction of 1,600 and the relocation of about 2,500 positions. AstraZeneca plans to discontinue R&D activities at its facility in Alderley Park, U.K., which is focused on small molecule R&D, though about 700 non-R&D roles will remain at the facility. The pharma plans to invest...

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