AstraZeneca plans to reshape manufacturing

As part of a plan to focus on its oncology, cardiovascular, diabetes, and respiratory disease businesses, AstraZeneca will streamline operations, primarily on its commercial and manufacturing sides. Although these moves will cost it $1.5 billion, the company says it can generate annual cost savings of $1.1 billion by the end of 2017. The moves will “optimize its presence” at strategic production sites while adding capacity for biologics. Previously, AstraZeneca said it would close plants in Massachusetts and England. The firm also implied cuts may be coming to its R&D structure.