AstraZeneca restructuring
AstraZeneca plc (LSE:AZN; NYSE:AZN) announced a restructuring on Monday that will see the pharma's headquarters move to Cambridge, U.K., from London and will consolidate its small molecule and biologics R&D activities into three locations by 2016 -- Cambridge; Molndal, Sweden; and Gaithersburg, Md. The restructuring, which will lead to an estimated overall headcount reduction of 1,600 and the relocation of about 2,500 positions, is the first announced since Pascal Soriot took over as CEO in October. The pharma currently employs more than 57,200 people worldwide (see BioCentury, Nov. 5, 2012).
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 about $500 million to establish a new R&D facility in Cambridge, which will be responsible for the pharma's U.K.-based small molecule and biologics R&D. Molndal will continue to focus on global R&D for small molecules. ...