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astrazeneca Christopher Furlong/Getty Images

Why Big Pharma Is Finally Discovering the Bay Area

AstraZeneca plc opened a 163,000-sq.-ft. lab and office facility in South San Francisco.

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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