Pharmaceutical giant AstraZeneca is selling its Alderley Park site in Cheshire to Manchester Science Parks, a Greater Manchester-based public-private partnership and science park operator.

The sale is part of AstraZeneca's plan to establish a new global research and development centre and corporate headquarters in Cambridge in 2016.

Manchester Science Parks plans to build on Alderley Park while keeping the 400-acre site as a life science and biotechnology campus. The financial terms of the transaction are not disclosed.

"We believe that the sale of the site to Manchester Science Parks is the responsible and sustainable choice for the future of Alderley Park," said AstrZeneca's Chief Executive Pascal Soriot.

"The new owner is committed to building on AstraZeneca's life science legacy at the site and ensuring it remains a centre of biotechnology innovation in the North West of England. It will lead to future growth and offer significant opportunities for new jobs to be created."

RD

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