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AstraZeneca PLC to Establish Research & Development Centers; to Restructure Research and Development; to Cut Jobs

Monday, 18 Mar 2013 09:03am EDT 

AstraZeneca PLC announced that it will invest in three strategic centers for research and development (R&D). According to plans, AstraZeneca R&D for small molecules and biopharmaceuticals is to concentrate on strategic centers in three locations: Cambridge in the United Kingdom, Gaithersburg in the United States and Molndal in Sweden. The proposed actions are expected to be fully implemented in 2016. In Cambridge the Company will invest approximately USD 500 million to build a new facility. Cambridge will also be AstraZeneca's new global headquarters. Gaithersburg will be MedImmune's headquarters and will carry the bulk of AstraZeneca's business with biological drugs. The facility in Molndal will strengthen its role as a strategic center for R&D, primarily focused on small molecules. The consolidation of R&D resources and building of new headquarters will have impact on other facilities in the next three years, particularly in the United Kingdom and the United States. The investments will lead to almost 2,500 positions being moved and a total workforce reduction of approximately 1,600 in the period from 2013 until 2016. Reductions will mainly be in the United States and Great Britain. The program is expected to cost USD 1.4 billion in one-time costs restructuring, of which USD 800 million are expected to be cash costs. 2016 estimated annual savings from the program amount to approximately USD 190 million. 

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