AstraZeneca plans to cut 2,300 sales and administrative jobs and focus drug research on three disease areas in a bid to return to growth as patents expire and the company seeks to recover from development setbacks.
Bloomberg reports that AstraZeneca will concentrate on respiratory, inflammation and autoimmune diseases, cardiovascular and metabolic illnesses, and cancer, the London-based drugmaker said in a statement today before a briefing for investors on new Chief Executive Officer Pascal Soriot’s strategy for the company. It also plans to double the number of drugs in late-stage development by 2016.
The job cuts are in addition to 1,600 research positions that the company, the U.K.’s second-biggest drugmaker, said on March 18 it would eliminate. Including a February 2012 plan to cut 1,150 posts, AstraZeneca has announced the elimination of 5,050 jobs in 13 months.
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