The company name might ring a bell as they were aided by Goldman Sachs and purchased the prescription drug business from Goldman Sachs. The layoff are to offset the anticipates losses of the patent loss of its osteoporosis treatment Actonel in Western Europe. So where else to focus for new revenue, the US where we pay far more than the rest of the world for our drugs. BD
The Dublin-based firm plans to restructure its Western European operations in Belgium, the Netherlands, France, Germany, Italy, Spain, Switzerland and the UK.
Warner Chilcott said this would affect around 500 jobs during the restructuring period, which was expected to last until 2012.
A handful of locations will emerge unscathed from the cuts, with facilities in Ireland and Weiterstadt, Germany, and its commercial operations in the UK all set to continue as they are.
The company’s decision has been prompted by the impending patent loss of its osteoporosis treatment Actonel in Western Europe.