AstraZeneca to Establish Strategic R&D Center in Gaithersburg, Md; Wilmington Remains North America

Before you go, we thought you'd like these...
Before you go close icon

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

WILMINGTON, Del.--(BUSINESS WIRE)-- AstraZeneca (NYS: 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.

"I recognize that our plans will have a significant impact on many of our people and our stakeholders at the affected sites. We are fully committed to treating all our employees with respect and fairness as we navigate this important period of change," Pascal Soriot said.

AstraZeneca will provide an update on its business strategy and implementation plans at its Investor Day presentation on Thursday, March 21.

About AstraZeneca

AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialization of prescription medicines for gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide.

For more information about AstraZeneca in the U.S. or our AZ&Me™ Prescription Savings programs, please visit: www.astrazeneca-us.com or call 1-800-AZandMe (292-6363).



AstraZeneca
Media Inquiries:
Tony Jewell, Wilmington, +1 (302) 885 4594
or
Michael O'Brien, Gaithersburg, +1 (301) 398 2133

KEYWORDS:   United States  North America  Delaware

INDUSTRY KEYWORDS:

The article AstraZeneca to Establish Strategic R&D Center in Gaithersburg, Md; Wilmington Remains North America Commercial Headquarters originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners