logo
Plus   Neg
Share
Email
Comment

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

Quick Facts

Editors Pick
Hormel Foods Corp. (HRL) reported a profit for the first quarter of fiscal 2018 that increased 28.9 percent from the prior year. Total net sales grew 2.2 percent from last year. Earnings per share topped analysts' expectations, while quarterly revenues missed their estimates. The company raised annual earnings per share guidance due to U.S. tax reform, while it maintained annual net sales outlook. Shares of Deutsche Telekom AG were losing around 3 percent in the morning trading in Germany after the telecom giant reported Thursday a decline in fourth-quarter EBITDA, a key earnings metric, with weak revenues. However, the company recorded a net profit, compared to loss last year on positive US tax effect. Deutsche Telekom lifted its dividend and said it expects higher earnings in 2018. Dish Network Corp. on Wednesday reported a surge in profit for the fourth quarter from last year, reflecting an income tax benefit that helped offset the impact of lower revenues. The latest quarter's results were positively impacted by an income tax benefit of about $1.2 billion due to an adjustment to deferred tax assets and liabilities related to tax reform legislation.
comments powered by Disqus
Follow RTT