London (Pharma) Calling

The London-based pharmaceutical company, AstraZeneca, announced yesterday that it was beginning construction on a $100 million, 132,000-square-foot research and development expansion to its facility in Waltham, Massachusetts. The company is planning on hiring 100 additional workers.

AstraZeneca recently acquired Maryland's largest biotech firm, MedImmune, for $15.6 billion. The company is planning a $250 million expansion project in Maryland, hiring an additional 250 employees. MedImmune will keep its name, as well as its headquarters in Gaithersburg.

Earlier this year, AstraZeneca announced restructuring plans, including firing 3,000 employees. Last week, the company announced that it would be closing its manufacturing facility in Plankstadt, Germany, by 2009. The plant currently employs 400 people

Sources: Reuters, Drug Researcher, Business Gazette