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AstraZeneca Pares 7,300 Jobs; Ups China Spending

publication date: Feb 2, 2012
AstraZeneca announced another 7,300 layoffs, bringing its total to over 21,000 over the past few years. The latest round will affect staff counts in the US and Europe. Among other things, the cutbacks mean closing the company’s in-house neuroscience R&D facilities, eliminating 2,200 staff and leaving AstraZeneca with a virtual program in that disease area. At the same time, AstraZeneca is building a $200 million plant in Taizhou; it has bought a generic drug company in China; and it recently signed a $140 million oncology drug partnership with Hutchison MediPharma. More details....

Stock Symbol: (NYSE: AZN)

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