UKUK

AstraZeneca sheds thousands of jobs

03.02.2012

London - AstraZeneca tries to shed some weight, anticipating a tough year ahead. 7,300 jobs will be gone soon, the Anglo-Swedish drug company said in a statement. Research and development operations will be cancelled in Södertälje, Sweden, as well as Montreal, Canada. In Södertalje, the company runs a series of state of the art biotechnical laboratories, mainly for research in the fields of therapy for the Central Nervous System (CNS) and Pain Control. Where the rest of the 5,100 job will vanish is not yet specified. AstraZeneca wants to get slimmer on a global scale, it is reducing the regional management groups from five to three - North America, Europe and Asia/Pacific. It is the third round of layoffs since 2007, bringing the total up to 28,900. On first look, the cuts seem counter-intuitive as the drugmaker reported a 24 percent increase in 2011 profits to €7.6bn. "We have announced further steps to drive productivity in all areas to improve returns on our investment in innovation”, CEP David Brennan commented. He cites generic competition and reduced government reimbursement schemes as main drivers for the move. AstraZeneca wants to save €1.2bn by 2014.

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14.11.2011

London – GlaxoSmithKline goes west. The British pharmaceutical company launched the $50-million GSK Canada Life Sciences Innovation Fund that will invest in “early-stage breakthrough research” in health care life science in...

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04.10.2011

Heidelberg/Cambridge/London– A team of researchers from GlaxoSmithKline, the biotech company Cellzome and from Universities Cambridge, Ulm and Amsterdam have found a promising treatment for mixed lineage (MLL-fusion) leukaemia...

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Amersham – GE Healthcare intends to remain a major force in cancer therapy. Based in London, the health business of the US technology giant announced it will be reserving €730m of its total R&D budget over the next five years for...

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01.10.2011

Wolverhampton – One of the challenges for manufacturers of probiotic foods is getting large enough numbers of the bacteria into the intestines; most perish under the strongly acidic conditions in the stomach. Scientists from the...

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01.10.2011

Washington – British Shire plc gained more than 10% in late August on the London Stock Exchange after the US FDA approved Firazyr (icatibant) for acute attacks of hereditary angioedema. The compound was developed by Berlin-based...

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26.09.2011

London – The first clinical trial using human embryonic stem cells will be carried out at the Moorfields Eye hospital in London. Doctors will inject retinal cells into the eyes of 12 patients with Stargardt‘s macular dystrophy, a...

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20.09.2011

Amersham – GE Healthcare intends to stay a major force in cancer. The health business of the US-technological company, which is based in London, announced to reserve €730m of its total R&D budget over the next five years for...

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29.08.2011

Cambridge - A new biotech spin off from the University of Cambridge launched with €6.8m venture capital. Newco Mission Therapeutics Ltd. plans to develop cancer drugs targeting enzymes in ubiquitin pathways that control cellular...

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23.08.2011

London - GlaxoSmithKline has invested about €1.5m to take a 25.4 percent stake in Autifony Therapeutics, a British biotechnology company spun out of GSK to research treatments for tinnitus and hearing loss. Autifony’s other...

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