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Tuesday - June 18, 2013

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Pending FDA approval, trials to begin on ALung’s artificial lung

Struggling Anglo-Swedish drugmaker AstraZeneca PLC said Monday that it will eliminate 1,600 jobs, mostly in the United States and United Kingdom, as its new CEO starts a major research and development reorganization.

The cuts come just weeks after the company reported big drops in revenue and net income for 2012 and forecast continuing difficulties as generic competition hurts sales.

The job reductions amount to nearly 3 percent of AstraZeneca's 57,200 workers.

worldwide and are part of moves affecting several major AstraZeneca sites in the UK, US and Sweden.

Even the global headquarters will be shifted, from London to Cambridge, England, as the company moves many of its scientists near top centers for bioscience research. Rivals have been doing the same, to be near those talent pools and to increase collaborations with scientists at universities and small biotech companies.

1. Fed suggests it’s closer to slowing bond purchases
2. Highmark to extend self-insurance plans to small businesses
3. FedEx 4Q profit drops as economic growth is weak
4. SEC investigation to continue into ‘suspicious’ acquisition of Heinz stock option
5. More choose to buy into jobs
6. It’s about what you can bring
7. United makes MileagePlus status harder to achieve
8. ExOne, furnace maker agree to jointly market products
9. Merck, Pfizer sue to block proposed version of AzaSite
10. Pennsylvania Human Relations Commission begins discrimination mediation program
11. Pending FDA approval, trials to begin on ALung’s artificial lung

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