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Pascal Soriot, Chief Executive Officer of AstraZeneca said: “Cambridge competes on the global stage as a respected innovation hub for life sciences and our choice of site puts us at the heart of this important ecosystem, providing valuable collaboration opportunities. Moving to the Cambridge Biomedical Campus means our people will be able to rub shoulders with some of the world’s best scientists and clinicians carrying out some of the world’s leading research – that’s a really exciting prospect. We hope that our move will contribute to the growing success of Cambridge.

“Today’s announcement also confirms AstraZeneca’s long-standing commitment to the UK and increases the chances that the next generation of medicines will be discovered here in Britain.”