News

Actelion: up to 135 jobs lost
Enlarge image

BusinessSwitzerland

Actelion: up to 135 jobs lost

13.07.2012 - Swiss biotech company Actelion announces to reduce headcount by 135 in order to lower costs and refocus research.

The swiss pharma company is relying heavily on 1st main product, the blood-pressure drug Tracleer, which currently accounts for around 90 percent of group sales and goes off patent in 2015. As the sales of the endothelin receptor antagonist decline, Actelion decided to start a cost saving initiative. "In order to take full advantage of the growth opportunities ahead of us, we must take decisive action now," said Chief Executive Jean-Paul Clozel.

The cost savings will reduce research spending. Actelion is set to concentrate 1st R&D activities towards orphan and speciality indications. Projects „which are not in alignment with this strategy will either be stopped, or prepared for partnership or out-licensing“, the Swiss company stated on 12 June. The cuts will be the first at Actelion since it was founded in 1997 and will mostly hit the headquarters in Allschwil. Around 70 jobs, mostly in R&D and general administration, are likely go at the Allschwil site in Switzerland, where 1,100 employees are currently based. Another 45 currently vacant positions won't be filled, reports Fox Business.

“It’s good to see they’re doing the right thing,” Michael Leuchten, an analyst at Barclays Capital in London, said to Bloomberg, adding that it would be „a bit more than they had been talking about” at a briefing in May, when the company said it would seek cost reductions in research, and not administration. Analyst Birgit Kulhoff, who manages a healthcare portfolio for private bank Rahn & Bodmer in Zurich is more sceptical. She said, that Actelion's cost-cutting scheme would merely aim at keeping the company afloat, after it had built up a structure that was too big and hard to sustain. Vontobel analyst Andrew Weiss expects the job cuts to generate savings of about CHF40m, while the related charges could be in the area of CHF20 million. Actelion will provide a will provide a business update at the half year reporting, scheduled for 19 July 2012.

BusinessSpainUKSweden

31.07.2014 Astrazeneca is buying the rights to Almirall’s respiratory drugs in a deal worth up to €1.56bn.

BusinessFranceGermanySwitzerlandUK

30.07.2014 Rumours have it that French Danone wants to sell its medical nutrition business to US drugmaker Hospira for US$5bn in yet another tax inversion deal.

RegulationUKEU

29.07.2014 The first vaccine for malaria may be within reach: The European Medicines Agency has accepted Glaxosmithkline’s malaria vaccine candidate RTS,S for regulatory review.

FundingEU

25.07.2014 The European Commission aims to support innovation in Europe and announced a "Fast Track to Innovation" pilot as well as five innovation prices under Horizon 2020.

ResearchUKEU

23.07.2014 In the largest genomic study published on any psychiatric disorder so far, researchers have indentified 83 new locations in the human genome associated with the risk of developing schizophrenia.

BusinessUKIreland

21.07.2014 Abbvie’s tenacious pursuit of British rival Shire is finally paying off: The two companies have unveiled their transatlantic merger worth £32bn (€40bn).

ResearchEUSwitzerland

17.07.2014 A trans-border, cross-disciplinary project that aims to model the human brain in a computer has drawn heavy criticism from scientists pledging to boycott the project.

MergerUK

16.07.2014 After rejecting three merger propositions from US competitor Abbvie, Shire has now given up resistance to the deal and is recommending a new and improved offer worth £31.3bn.

AcquisitionUKDenmarkSpainGermanyFrance

15.07.2014 British specialty pharma company Prostrakan is handing over £230m for Archimedes Pharma Limited, a company that brings its lead product Pecfent and its proprietary drug delivery technology platform into the deal.

FundingEU

11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • PHARMING (NL)0.48 EUR11.63%
  • MDX HEALTH (B)3.80 EUR10.79%
  • NEUROVIVE PHARMACEUTICAL AB (S)70.00 SEK8.53%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • NOVACYT (F)4.46 EUR-10.26%

TOP

  • WILEX (D)2.82 EUR243.9%
  • NEUROVIVE PHARMACEUTICAL AB (S)70.00 SEK44.3%
  • Allergy Therapeutics (UK)20.00 GBP34.4%

FLOP

  • HYBRIGENICS (F)1.72 EUR-28.0%
  • PROSENSA (NL)9.67 USD-23.4%
  • PROTHENA PLC (IE)17.79 USD-21.1%

TOP

  • SANTHERA (CH)59.90 CHF2836.3%
  • GW PHARMACEUTICALS (UK)431.00 GBP656.1%
  • PAION (D)2.42 EUR272.3%

FLOP

  • EVOCUTIS (UK)0.21 GBP-92.7%
  • CYTOS (CH)0.27 CHF-92.0%
  • PROSENSA (NL)9.67 USD-70.9%

No liability assumed, Date: 31.07.2014