Some 40 years after the biotech industry’s birth, old-school Big Pharma is planting flags in the Bay Area.
AstraZeneca plc (NYSE: AZN) formally opened its 163,000-square-foot lab and office facility Tuesday in HCP Inc.’s (NYSE: HCP) Britannia Cove in South San Francisco. It joins Merck & Co. Inc. (NYSE: MRK) and Bristol-Myers Squibb (NYSE: BMY) as some of the traditional drug maker names expanding operations in the Bay Area while trying to snare some of the region’s drug-development mojo.
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