AstraZeneca sells R&D site, to take $275 mln charge
LONDON, March 12
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.