Recipharm signs 12 year AstraZeneca Biotech Lab lease
Former owner AstraZeneca, which is maintaining a significant minority stake in ABL, also signed a supply agreement with Recipharma for Phase I and II clinical supplies for an as yet unidentified drug being developed by ABL.
The UK-based drug major said that the move was part of an ongoing effort to consolidate its biotechnology manufacturing capabilities following its recent acquisition of US firm MedImmune.
Jan Lundberg, AstraZeneca executive vice president of global discovery research, said that: “By divesting the facility, we are able to realise value from the assets while preserving jobs for the vast majority of the skilled and experienced workers. In turn, Recipharm gains a state-of-the-art laboratory, which is ideally suited to their strategic needs.”
