Rumors of staff cuts from AstraZeneca’s ($AZN) MedImmune biologics arm are part of previously stated changes and a deeper focus (and a larger cash pile) for its oncology research.
Rumors have been growing that AZ was axing staffers at MedImmune over the past week, but the Big Pharma tells FierceBiotech that this is part of the course originally announced back in its Q1 update in the spring.