This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AstraZeneca To Establish Strategic R&D Center In Gaithersburg, Md; Wilmington Remains North America Commercial Headquarters

AstraZeneca (NYSE:AZN) announced today that Gaithersburg, Md., will be one of three global research and development centers to improve pipeline productivity and to establish the company as a global leader in biopharmaceutical innovation. Additionally, US-based global marketing and specialty care commercial functions will be centered in Gaithersburg, currently the site of MedImmune’s headquarters and the primary location for AstraZeneca’s biologics activities.

The relocation of research and development, global marketing and specialty care positions from Wilmington will be carried out through 2015. The North America commercial headquarters, along with several corporate-based support functions, will remain in Wilmington.

The changes are part of AstraZeneca’s announcement to invest in strategic research and development centers in Cambridge, UK; Gaithersburg, Md.; and Mölndal, Sweden. The proposals are designed to co-locate teams to improve collaboration and put science and the patient at the heart of everything the company does. The changes will also simplify the company’s global site footprint.

Pascal Soriot, Chief Executive Officer, AstraZeneca said: “The changes we are proposing represent an exciting and important opportunity to put science at the heart of everything we do because our long-term success depends on improving R&D productivity and achieving scientific leadership. This is a major investment in the future of this company that will accelerate innovation by improving collaboration, reducing complexity and speeding up decision-making. The strategic centers will also allow us to tap into important bioscience hotspots, providing more of our people with easy access to leading-edge academic and industry networks, scientific talent and valuable partnering opportunities.”

The consolidation of AstraZeneca’s global R&D footprint will have an impact on sites in the United States. About 1,200 positions will leave Wilmington, while there will be an increase of about 300 positions in Gaithersburg. The changes announced today will lead to an estimated overall reduction of about 650 positions in the US, while around 170 will relocate to other AstraZeneca sites in the US or overseas.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs