Unions Fight AstraZeneca PLC (AZN) Plans to Move R&D Base South
4/30/2013 8:08:51 AM
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Union leaders will meet executives at AstraZeneca today to try to convince Britain's second-biggest drugmaker to reverse plans to close its R&D site in Cheshire and move almost 2,000 jobs. AstraZeneca wants to move its R&D hub from Alderley Park in Cheshire to Cambridge by 2016. The pharma giant is suffering as a string of drugs run out of patent, with few new hopes in the pipeline to replace those lost revenues. Its two top-selling drugs, Nexium ulcer pills and the Crestor cholesterol-buster, see their US patents expire in 2014 and 2016.
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