AstraZeneca plans more job cuts; inks $240M-plus deal with Moderna; expands alliance with Karolinska Institutet

Anglo-Swedish drug major AstraZeneca (LSE: AZN), ahead of its Investor Day briefing in New York later today, announced two major alliances to bolster its research productivity. The firm’s new chief executive, Pascal Soriot, who just a few days ago revealed plans for a major overhaul of its research sites including 1,600 job cuts (The Pharma Letter March 19), said: “Our vision is clear – to be a global biopharmaceutical company with a focused portfolio in core therapy areas, underpinned by distinctive science and a growing late-stage pipeline, with sound financials offering attractive returns for investors.”

The company plans to focus its R&D efforts in three core therapeutic areas: Respiratory, Inflammation & Autoimmunity, Cardiovascular & Metabolic Disease, and Oncology. In addition, AstraZeneca disclosed its restructuring plans in the SG&A and R&D activities leading to a global headcount reduction of around 5,050 over the 2013 to 2016 period. These changes are estimated to incur about $2.3 billion in one-time restructuring charges to the P&L, of which $1.7 billion are expected to be in cash costs. Benefits of about $800 million per annum are expected by 2016.

Messenger RNA therapeutics accord