AstraZeneca sells R&D site, to take $275 mln charge

LONDON, March 12 Wed Mar 12, 2014 3:16am EDT

LONDON, March 12 (Reuters) - AstraZeneca has agreed to sell its Alderley Park research site in northern England to a public-private partnership group as it moves drug discovery to a new global centre in Cambridge.

The British pharmaceuticals group said it would take pretax impairment charges of $275 million to non-core R&D expense in the first quarter of 2014 in connection with the changes.

The new owner of the Alderley Park site, Manchester Science Parks, plans to keep the 400-acre site as a life science and biotechnology campus.

The financial terms of the sale were not disclosed.