Merck & Co is to close or sell eight manufacturing plants and a further eight R&D laboratories as part of efforts to cuts its workforce by 15 per cent.
US drugmaker Eli Lilly plans to cut 5,500 jobs by 2011 as it prepares to enter what CEO John Lechleiter said will be “the most challenging period in [the] company’s history.”
Schering-Plough has agreed to pay $165m to settle a class action lawsuit that claims the company’s failure to disclose manufacturing deficiencies defrauded investors.
The year of the mega-merger continues with Merck & Co’s move to buy Schering-Plough for $41.1bn, with the intention of boosting its pipeline, entering new markets and creating a “powerful biologics presence”.
Merck & Co is to buy fellow US drug major Schering Plough for $41bn (€32.6bn) to boost its pipeline in the face of impending patent expiry for key products.
AstraZeneca is to cut 1,400 jobs and close more manufacturing facilities by 2013, as it attempts to slim down in preparation for impending generic competition for some of its cornerstone drugs.
As Swiss firm Lonza announced last week that it has broken ground
at its second manufacturing site in Singapore, the region looks set
for growth in biologics manufacture with biological products due to
take centre stage in the pharma...
Determined to reduce costs in its manufacturing operations,
Schering-Plough has announced the loss of 1,100 positions in
manufacturing sites in Puerto Rico and New Jersey, aiming to save
$100m (€78.1m) a year.
Innercap Technologies has developed a new capsule drug delivery
system that makes it possible to combine two incompatible drug
compounds into a single dosage unit.
Schering-Plough last week stopped enrollment in a Phase III trial
of its new anticancer agent, Sarasar (lonafarnib), after saying it
would not provide sufficient evidence of efficacy as a first-line
treatment for non-small cell lung...
Schering-Plough has lowered its financial forecasts for the second
time and unveiled a fresh round of cost cutting in an attempt to
stabilise its finances.