Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Register
To receive FREE breaking news email alerts for SkyePharma Plc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A Thai company has bought iconic U.S. tuna brand Bumble Bee for $1.51 billion dollars. Thai Union Frozen Products Public Company Limited or TUF, the world's largest processor of shelf-stable tuna products snapped up Bumble Bee from private equity firm Lion Capital. Post Synergies, the transaction... Here is a list of interesting stocks to watch on December 19. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed below and many more have been researched already, and... Shares of OvaScience Inc. (OVAS) have had a strong run in 2014, rising over 370 percent year-to-date. And that's indeed a very impressive return delivered by the fertility treatment company, which suffered a setback last year when it had to suspend a U.S. trial of its flagship fertility treatment due to regulatory concerns raised by the FDA.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.