AstraZeneca sells British R&D site, to take 165.50 million pounds charge

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AstraZeneca sells British R&D site, to take 165.50 million pounds charge

AstraZeneca has agreed to sell its Alderley Park research site in northern England to a public-private partnership group as it moves drug discovery to a new global centre in Cambridge. The decision to close Alderley Park was a major blow for the northwest of the country, but the latest transaction has a silver lining as new owner Manchester Science Parks plans to keep the 400-acre site as a biotechnology campus. The site lies with within the Cheshire parliamentary constituency of British Finance Minister George Osborne, who said on Wednesday he was delighted it would continue to play a role as a centre for the life sciences industry. The sale follows a decision last March by AstraZeneca Chief Executive Pascal Soriot to move drug research and development to a new site in university city Cambridge in eastern England - a world-class centre for life sciences.

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