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AstraZeneca 4Q09

Job cuts at AZ, with a rough 5-year stretch ahead

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By: Tim Wright

Editor-in-Chief, Contract Pharma

AstraZeneca 4Q09 4Q Revenues: $8.9 billion (+9%) 4Q Earnings: $1.2 billion (loss of $251 million in 4Q08) FY Revenues: $32.8 billion (+4%) FY Earnings: $7.4 billion (+77%) Comments: AZ announced a new round of 10,400 layoffs as part of its earnings announcement, predicting a rough period from 2010-14. The layoffs include a net loss of 1,800 R&D positions, with twice as many jobs being affected. The R&D restructuring will include “a reduction in the number of disease ...

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