Singapore: AstraZeneca is looking to move its research and global headquarters to Cambridge, UK, and has zeroed in on a site located at the south of the city. The firm's new headquarters is expected to be worth $500 million and will also boast of a biomedical park.

The move to Cambridge, which houses some of the most prestigious universities in the world, is the centerpiece of a $2.3 billion restructuring plan unveiled by AstraZeneca's new CEO, Dr Pascal Soriot during March 2013.

The restructuring plans also includes involves slashing the number of overall staff by 10 percent or nearly 2,000 jobs by 2016.