Press Release: AstraZeneca Makes $100M Research Investment In Boston
AstraZeneca Makes $100M Research Investment In Boston Expansion Of R&D Boston To Create Up To 100 New Scientific Jobs WILMINGTON, Del., Jan. 22 -- AstraZeneca today announced a $100 million research investment to strategically boost work in the infectious disease area and continue its incremental growth in cancer research at its R&D center near Boston, Massachusetts. The expansion of AstraZeneca's research facility will accommodate up to 100 additional researchers. They would join the more than 400 existing employees who are focused on discovering treatments for infectious diseases and cancer. "This investment will significantly boost our research capabilities in two critical areas of medical need, and two areas where we have tremendous heritage," said David Brennan, Chief Executive Officer of AstraZeneca. "It will provide additional resources for our scientists who are tackling more complex diseases than ever before, as they work towards our ultimate goal of giving people hope for a healthier future." Adds Jan Lundberg, Executive Vice President, AstraZeneca Global Discovery Research, "Infectious disease is becoming more prevalent and problematic to patients and healthcare providers, placing a heavy burden on our healthcare systems. With our expanded presence in Boston, our scientists will be better equipped to discover and develop novel medicines to address important areas of unmet need." The World Health Organization figures show that 41 percent of the global disease burden is due to infection. Outside the European Union and US, the infectious disease burden is greater than the total of all other therapy areas combined. Meanwhile, there has been a worldwide decline in the delivery of new antibiotics -- only 10 new antibacterials have been introduced since 1998, of which two were truly novel. Resistance to currently available antibacterials continues to increase and represents a clear danger to patients and public health globally. AstraZeneca is committed to providing much needed new antibacterial agents for worldwide use. Construction of the 132,000 square foot facility will begin at the Waltham, Mass. site during the first quarter of 2007 with scheduled completion by mid 2009. Upon completion, the total size of the AstraZeneca research facility will be 382,000 square feet. AstraZeneca first established a research presence in Boston in 1995, ahead of many competitors. In 2000, the company opened their state-of-the-art research facility in Waltham where it has continued to invest and expand, growing from 170,000 square feet to the current 250,000 square foot facility. Since the opening of AstraZeneca R&D Boston, scientists there have discovered three potential drugs that are under development to treat different cancers including breast, ovarian, thyroid and prostate cancer, and two novel- class candidate drugs to potentially treat serious skin infections, serious cases of chronic bronchitis and serious pneumonias. AstraZeneca believes Boston gives the company access to the leading scientific talent, potential partners and collaborators, and emerging science in a worldwide biotechnology hub. AstraZeneca is a major international healthcare business engaged in the research, development, manufacture and marketing of prescription pharmaceuticals and the supply of healthcare services. It is one of the world's leading pharmaceutical companies with healthcare sales of $23.95 billion and leading positions in sales of gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infection products. AstraZeneca is listed in the Dow Jones Sustainability Index (Global) as well as the FTSE4Good Index.