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AstraZeneca to Open Strategic R&D Center in Maryland, Sees $1.4B in One-Time Restructuring Charges

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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.

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.

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

 

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