AstraZeneca to create new global headquarters in Cambridge

AstraZeneca has announced plans to establish a new global research and development centre and corporate headquarters in Cambridge by 2016.

The company will make an investment of around 330 million pounds to establish the purpose-built facility, which will employ around 2,000 people and consolidates the firm's UK presence.

As a result of this announcement, many of the functions and current staff at AstraZeneca's existing sites in Cheshire and London will be moved across the Cambridge over the next three years.

Cambridge has been chosen as a destination due to its strong links with London-based research institutions and reputation as a bioscience hotspot, with AstraZeneca's biologics arm MedImmune already maintaining a presence there.

It will be one of three new strategic worldwide centres for the company from 2016, in addition to Gaithersburg in the US and Molndal in Sweden.

Pascal Soriot, chief executive officer at AstraZeneca, said: "Our proposed investment is a clear signal of AstraZeneca's long-term commitment to the UK and highlights the important role Cambridge plays internationally in bioscience research."