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AstraZeneca Sells Main U.K. R&D Site

by Alex Scott
March 17, 2014 | A version of this story appeared in Volume 92, Issue 11

AstraZeneca has agreed to sell its Alderley Park research site in the north of England to Manchester Science Parks, a public-private partnership. The new owner will develop the site as a bioscience park. Local newspapers speculate that bids for the complex ranged from $50 million to $80 million. AstraZeneca will take a $275 million charge for the sale of the 400-acre site, which has been the firm’s R&D headquarters since the 1950s. AstraZeneca expects to hand the site over to its new owners as it completes its new R&D headquarters in Cambridge, England, by 2016. Even after that, AstraZeneca expects to retain 700 staffers in Alderley Park.

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