The drugmaker is reorganizing global research and development, and eliminating about 1,800 R&D jobs, although the cuts are actually part of a previously announced plan to cut 8,000 employees (see here). The move reflects a decision to shift resources away from primary R&D and lurch toward doing more deals with smaller companies that have up-and-coming compounds.
Discovery will end in these areas: thrombosis; acid reflux; ovarian and bladder cancers; systemic scleroderma; schizophrenia, bipolar disorder, depression and anxiety; hepatitis C and vaccines other than respiratory syncytial virus and influenza.
Research sites in the UK and Sweden will be closed, and that about 3,500 R&D jobs will be affected as part of a plan announced in January to cut 8,000 jobs, or 12 percent of its work force, by 2014. AstraZeneca is also looking to sell its Arrow Therapeutics business. About 550 jobs will be eliminated at AstraZeneca's US headquarters in Delaware.
2 Comments
AZ bailing out on CNS may be huge. Because it could pivot the investigative domain into the tank with other Pharma companies following up and dumping their CNS R&D efforts.
That drug class is so dirty, if the US and Europe get out, Asian products would never pass the laugh test. (I.e., China can't produce drywall without killing people. Can you imagine them trying to market a CNS drug?)
http://industry.bnet.com/pharma/10006350/astrazeneca-layoffs-blame-the-lawyers-and-the-seroquel-marketers/?tag=content;selector-perfector
Didn't AZ just buy in an antidepressant?
Looks like they might need it!!