Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Actelion Introduces Cost Saving Initiative; 135 Positions To Get Affected

Actelion Ltd. (ALIOF.PK) announced that the company has launched a cost saving initiative as an integral part of its strategy for value creation outlined in early May 2012.

According to the company, the initiative will ensure that it can fully capitalize on the significant growth opportunities in its core area of expertise of pulmonary arterial hypertension. The cost saving initiative addresses several challenges facing the company, including the continued strength of the Swiss Franc, increased competition in the United States, and the difficult pricing and reimbursement environment in Europe.

Actelion stated that cost savings will start to take effect in the latter part of 2012 and accelerate in 2013. The cost saving initiative is expected to result in a reduction of up to 135 positions in Research & Development and in administration.

The company noted that upon completion of the consultation process, it plans to implement a social plan and conclude the initiative before the end of 2012. As a result, a one-off restructuring charge - the size of which is still to be determined, in part, upon conclusion of employee consultations - will be included in the 2012 financial statements.

Click here to receive FREE breaking news email alerts for Actelion Ltd., and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy. FCA US, until recently known as Chrysler, said Friday it is recalling 257,000 Dodge Ram pickups. The auto maker says the rear axle pinion nut on certain model year 2005 Dodge Ram 1500 trucks may loosen due to an undersized spline on the pinion gear. If the pinion nut loosens, the rear axle may... This medical device company has a very impressive track record of growing business over the past decade. increasing sales from $490.2 million in 2004 to $1.72 billion this year. The Silicone Hydrogel daily disposable lens portfolio constitutes a major avenue for growth.
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.