JPMorgan has bought half of AstraZeneca’s research campus in Delaware for $44 million.
The 58-acre site forms the southern wing of AstraZeneca’s Wilmington-based American headquarters, and the drugmaker plans to vacate the site by year’s end, according to the Philadelphia Business Journal. The south campus was previously home to AstraZeneca’s Global Medicines Development unit.
The sale is part of the company’s effort to make its R&D operation more productive and more efficient, reports FierceBiotech. As part of the restructuring of the R&D 650 employees will be made redundant and 550 will be transfered. Around 2000 employees will remain in marketing in Wilmington.