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...