Five questions answered on further job losses at AstraZeneca

UK pharma firm cuts a further 2,300 jobs globally.

UK pharmaceutical giant AstraZeneca has announced further job losses on top of the ones it announced at the beginning of the week. We answer five questions on the AstraZeneca job losses.

How many job losses has AstraZeneca announced this week?

On Monday the company announced around 2,300 job losses world wide - around 700 from the UK. Today it has announced a further 2,300 jobs will be lost globally.

Why is the company axing these jobs?

AstraZeneca is in the process of restructuring its business and has outlined a new strategy that has resulted in these job losses. One of the big aspects of its UK restructuring is closing down its London office and opening a new headquarters in Cambridge.

Research and development work will no longer be carried out at its Alderley Park, Cheshire facility, with approximately 1,600 roles being relocated to Cambridge.

How much is the company investing in Cambridge?

The company is investing £330m ($500m) to build a new headquarters in Cambridge and creating 2,000 jobs in the area.

What other problems do AstraZeneca face?

The company is struggling with a lack of drug developments in the pipeline and patents of blockbuster drugs that are due to expire.

Today it announced it will concentrate on developing drugs to combat respiratory, inflammation and autoimmunity, heart disease and cancer treatments.

What has AstraZeneca said in regards to its new strategy?

In a press statement Chief Executive Officer, Pascal Soriot said: “We are making an unambiguous commitment to concentrate our efforts and resources on our priority growth platforms and our priority pipeline projects.

“As we focus, accelerate and transform our business we know that our success will ultimately be measured by the quality of execution. I’m confident that we have set out on the right path to return to growth and achieve scientific leadership, and I’m equally confident that our people possess the talent, determination and focus to deliver for patients as well as our shareholders.”

Photograph: Getty Images

Heidi Vella is a features writer for Nridigital.com

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Why the Tories' falling poll lead is believable

Jeremy Corbyn has fought a good campaign, while Theresa May's has been a series of duff notes.

Taxi for Theresa May? The first poll since the Manchester bombing is out and it makes for grim reading in CCHQ.

The numbers that matter: the Conservatives are on 43%, Labour on 38%, the Liberal Democrats are on 10%, while Ukip are way down on 4%. On a uniform swing, far from strengthening her hand, the PM would be back in office with a majority of just two.

Frankly a PM who has left so many big hitters in her own party out in the cold is not going to last very long if that result is borne out on 8 June. But is it right?

The usual caveats apply - it's just one poll, you'd expect Labour to underperform its poll rating at this point, a danger that is heightened because much of the party's surge is from previous non-voters who are now saying they will vote for Jeremy Corbyn. There's a but coming, and it's a big one: the numbers make a lot of sense.

Jeremy Corbyn has fought a good campaign and he's unveiled a series of crowd-pleasing policies. The photographs and clips of him on the campaign trail look good and the party's messaging has been well-honed for television and radio. And that's being seen in the Labour leader's popularity ratings, which have risen throughout the campaign.

Theresa May's campaign, however, has been a series of duff notes that could have been almost designed to scare off voters. There was the biggie that was the social care blunder, of course. But don't underestimate the impact that May's very public support for bringing back fox-hunting had on socially liberal Conservative considerers, or the impact that going soft on banning the sale of ivory has in a nation of animal-lovers. Her biography and style might make her more appealing to floating voters than David Cameron's did, but she has none of his instinctive sense of what it is that people dislike about the Tory party - and as a result much of her message has been a series of signals to floating voters that the Tory party isn't for them.

Add that to the fact that wages are falling - no governing party has ever increased its strength in the Commons in a year when that has been the case - and the deterioration of the public realm, and the question becomes: why wouldn't Labour be pulling into contention?

At the start of the campaign, the Conservatives thought that they had two insurance policies: the first was Jeremy Corbyn, and the second was May's purple firewall: the padding of her lead with voters who backed Ukip in 2015 but supported the Conservatives in the local elections. You wouldn't bet that the first of those policies hadn't been mis-sold at this point. Much now hinges on the viability of the second.

Stephen Bush is special correspondent at the New Statesman. His daily briefing, Morning Call, provides a quick and essential guide to British politics.

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