BioCentury
ARTICLE | Company News

AstraZeneca details restructuring plans

March 3, 2010 1:51 AM UTC

AstraZeneca plc (LSE:AZN; NYSE:AZN) released further details of plans to reorganize its R&D, including its intention to end discovery efforts in 10 indications. AstraZeneca plans to cease work in thrombosis, acid reflux, ovarian and bladder cancers, systemic scleroderma, schizophrenia, bipolar disorder, depression, anxiety and HCV. The company also said it will stop discovery efforts in vaccines, other than those for respiratory syncytial virus (RSV) and influenza. The pharma said it will continue to invest in R&D in all of its current therapy areas, which include cardiovascular, gastrointestinal, cancer, respiratory, inflammation, neuroscience and infection.

AstraZeneca plans to close R&D sites at Charnwood and Cambridge in the U.K. and in Lund, Sweden. The company also said it is interested in selling its Arrow Therapeutics Ltd. anti-viral business in London. AstraZeneca said some employees will be transferred to other sites and reiterated that it expects the changes will affect 3,500 R&D positions by 2014, with a net reduction of 1,800 positions. AstraZeneca announced plans to reorganize its R&D in January (See BioCentury, Feb. 01, 2010). ...