|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Sunday 07th of March 2010
March 2, 2010    

AstraZeneca to close Loughborough plant

Bookmark and Share

by Kay Murchie

The UK’s second-largest drug maker, AstraZeneca, has announced plans close a research centre near Loughborough, Leicestershire.

The drug giant is one of Leicestershire’s major employers and the move will result in the loss of more than 1,000 jobs.

Furthermore, a smaller facility in Cambridge is to close and are part of plans to axe 8,000 jobs across its global operations over the next four years.

Some of the affected staff will be offered the chance to transfer to other areas of the business, the company said.

Linda McCulloch, Unite the union’s national officer for the chemical and pharmaceutical industry, described it as a “devastating blow to the workforce at Loughborough.”

She added: “The closure of this site will damage the UK’s pharmaceutical research and development capabilities.”

The news comes just a month after Britain’s largest drug company, GlaxoSmithKline (GSK), said it would slash 4,000 positions.

The pharmaceuticals industry has been suffering of late with falling sales as many drugs are losing their patent protection.

Discuss this in the Finance Markets forums

Story link: AstraZeneca to close Loughborough plant

Related financial stories to: AstraZeneca to close Loughborough plant:
Previous: « British Airways leads 100 higher
Next: UK consumer confidence up in February »

Visited 1474 times, 24 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: AstraZeneca, Cambridge, closure, GlaxoSmithKline, , Loughborough, patent protection, plant