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AstraZeneca Goes Virtual In Neuroscience R&D As Part Of Workforce Reduction

 
• By John Davis

AstraZeneca is to slash 12% of its workforce in the next three years, as the company forecasts declining revenues in 2012 because of its steep patent cliff, government pricing interventions and R&D pipeline failures.

AstraZeneca PLC is to cut 7,300 positions in R&D, commercial and support operations globally over the next three years in order to save $1.6 billion in costs annually, as its R&D pipeline continues to stutter and fails to counter headwinds from the loss of patents on blockbuster products and government pricing interventions.

As part of the restructuring, the third by the company since 2007, all R&D will cease at its Södertälje facility in Sweden and its Montreal facility in Canada, and neuroscience research will largely be outsourced, under

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