logo
Share SHARE
FONT-SIZE Plus   Neg

Skyepharma Reports Reorganisation Of Swiss Operations - Quick Facts

SkyePharma Plc (SKYEY.PK,SKP.L) announced that the SkyePharma Group has entered into a consultation process which could lead to a reduction of nearly 20% of its 101-strong workforce in Muttenz, Switzerland. The company noted that the proposed steps are planned to improve its competitiveness and generate CHF 2.6 million or 1.8 million pounds of operating cost savings each year.

Separately, the Group reached deals with the Aenova Group to sub-let part of its laboratory space in Muttenz and sell some of its surplus laboratory equipment to Aenova. Aenova intends to use the space to expand its own non-competing oral product development activities and has agreed to consider offering positions to some of the SkyePharma employees potentially affected by the headcount reduction.

The changes would not affect relationships with existing or potential customers and the Group would continue to provide its full existing range of innovative oral and inhalation drug delivery solutions.

In future, SkyePharma plans to make greater use of third-party sub-contracting for certain aspects of the oral product development process and Aenova has agreed to be a sub-contractor for this purpose. There would be no transfer or disposal of any business, technology or intellectual property to Aenova and Aenova's oral product development activities do not directly compete with those of SkyePharma.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Alphabet Inc., (GOOG, GOOGL), the parent company of Google, Thursday reported an increase in profit for the second quarter, driven mostly by increase in search and advertising revenues. Earnings and revenues for the quarter trumped Wall Street expectations, sending shares of the company up by 3 percent... Apple Inc. (AAPL) has announced that it recently sold its 1 billionth iPhone, about nine years after the first iPhone was launched. "iPhone has become one of the most important, world-changing and successful products in history. It's become more than a constant companion. iPhone is truly an essential... Fiat Chrysler Automobiles's US will focus on Jeep SUVs and Ram Pickups and plans to stop producing small passenger cars from early next year. The plan to stop Dart and Chrysler 200 production will be effective by first quarter of 2017. The new plans are expected to increase profit margins, as SUVs...
comments powered by Disqus
Follow RTT