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AstraZeneca to retire MedImmune brand amid restructuring

Published on 15/02/19 at 11:01am

AstraZeneca is retiring the MedImmune brand as part of a restructuring that will see biologics integrated into two new R&D units.

The announcement comes just a month after AstraZeneca announced organisational changes which will see the creation of therapy area specific R&D units.

AstraZeneca acquired MedImmune in 2007, running the firm as a separate biologics unit. However the restructuring will see the company integrated into AstraZeneca’s new R&D units.

The changes will not affect MedImmune’s ongoing partnerships and collaborations. AstraZeneca did not offer insight as to whether the restructuring would result in changes to management; however a spokesperson suggested that no layoffs are expected.

 The news comes after a number of high profile resignations. Nevertheless recent figures show that  AstraZeneca’s fourth quarter revenue jumped 11% year on year, reaching $6.4 billion

“As we recently entered a new phase in our strategic development, we have refined our organisation to position ourselves for the next phase of our journey,” CEO Pascal Soriot said.

Louis Goss

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