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The company said its site in Molndal, Sweden, will join Cambridge and Gaithersburg as one of its three strategic centers, focusing on developing traditional drugs in pill form. The three sites will be supported by other AstraZeneca facilities around the world, including the one in Waltham. Meanwhile, AstraZeneca will end research and development work at its facility at Alderly Park in the UK. It will move about 1,600 jobs from there to a nearby manufacturing facility in Macclesfield, the new center in Cambridge or company sites overseas. The company said at least 700 nonresearch jobs will remain at Alderly Park, and it will explore options for "a successful future" for that facility. Like other big drugmakers, AstraZeneca is being squeezed by the weak global economy, government health programs trying to hold down spending, rising research costs and a surge of new generic competition to blockbuster drugs that had brought in billions every year. In January, AstraZeneca said generic competition in Western Europe and other areas was slashing sales of top sellers including Nexium for severe heartburn, Seroquel IR for schizophrenia and Crestor for high cholesterol. The company's total sales dropped to $28 billion last year, from $33.6 billion in 2011, while net income plunged 37 percent. So like most of its rivals, AstraZeneca is trying to do more with less staff and improve its success rate in the laboratory and in the expensive patient testing needed to get new drugs approved. The process generally takes a decade or more and costs more than $1 billion per drug, averaging in the costs for hundreds of failed drug candidates. AstraZeneca shares fell 28 cents to close at $46.18.
[Associated
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