AstraZeneca to axe 1,600 jobs in overhaul of drug R&D

By Ben Hirschler LONDON (Reuters) – AstraZeneca is to cut around 1,600 jobs as it overhauls research operations and consolidates drug development work in three major centers in Britain, the United States and Sweden. The move will see the end of drug development at AstraZeneca's Alderley Park facility in northwest England, for many years a hub of the group's research and development (R&D) efforts, the drugmaker said on Monday. New Chief Executive Pascal Soriot, who will present his detailed strategy plans for the group to investors on March 21, said the program would lead to $1. …