AstraZeneca reveals plans to use $500m to establish a global R&D centre and its corporate headquarters in Cambridge.
Global pharmaceutical firms AstraZeneca is to invest $500m in the construction of a new global R&D centre and the relocation of its headquarters in Cambridge.
The announcement comes as part of a wider company plan to establish three R&D centres in the UK, the US and Sweden to drive biopharmaceutical research.
The company, which will be bringing 2,000 new jobs to the area, said that it was attracted to the Cambridge tech cluster by the easy access to scientific talent and the ability to collaborate with Cambridge University to explore research opportunities.
Pascal Scott, chief executive at AstraZeneca, said: “Cambridge, which boasts strong links with London-based research institutions, is a world-renowned bioscience hotspot that rivals the likes of San Francisco and Boston. In a world where partnerships and collaborations drive medical progress, becoming an integral part of the Cambridge ecosystem offers compelling advantages for AstraZeneca, giving us easier access to leading-edge academic and industry networks, scientific talent and valuable partnering opportunities.”
