AstraZeneca PLC opened its new research and development (R&D) center in Kendall Square, Cambridge, Massachusetts, on Monday and announced plans to invest over $1 billion in its Massachusetts operations.
The pharmaceutical and biotechnology company said that the planned investment will expand the state's workforce by more than 50% over the next several years and boost economic growth. In addition, the new center will bring in 2,000 researchers and scientists to strengthen AstraZeneca's oncology, cell therapy, chronic disease, and rare disease fields.
"Kendall Square is a leading innovation ecosystem, and it is one of the key locations where AstraZeneca will discover the next generation of scientific breakthroughs. Our new R&D center not only reflects AstraZeneca's long-term commitment to Massachusetts but also our belief in delivering US-led innovation to patients around the world," AstraZeneca CEO Pascal Soriot noted.
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