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Chitra Sethi, Managing Editor, BioPharm International
AstraZeneca will cut 500 research and development positions at its US headquarters in Fairfax, DE.
London-based pharmaceutical company AstraZeneca will cut 500 research and development positions at its US headquarters in Fairfax, DE. Two facilities in the UK and a research site in Sweden will also be closed as AstraZeneca moves forward with its reorganization plans announced at the beginning of this year.
In January, AstraZeneca had announced its plans to slash 8,000 jobs, or 12% of its work force, by 2014, to cut costs. AstraZeneca’s revenues in 2010 are expected to come under pressure as its key products, child asthma medication Pulmicort and breast cancer treatment Arimidex, lose patent protection.