AstraZeneca is to open a £330m Cambridge campus and shut operations in Cheshire and Paddington.
The pharmaceuticals giant is closing down its Alderley Park research and development facility in Cheshire with the loss of 550 jobs there and 150 elsewhere in the UK over the next three years.
A further 1,600 jobs will be moved from the facility to Cambridge.
The global headquarters in Paddington, London, is expected to close by 2016, with most of the 350 staff moving to Cambridge.
Chief executive Pascal Soriot said: “I recognise that our plans will have a significant impact on many of our people at our sites in Cheshire and London and the surrounding communities.
“We are fully committed to treating all our employees with respect and fairness as we navigate this period of change.
“We are keen to work with central and local government, as well as the business community in the region, to ensure that all practical solutions for the future of Alderley Park are considered in order to support the local economy over the long term.”
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