logo
Share SHARE
FONT-SIZE Plus   Neg

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Poultry giant Sanderson Farms has blamed the national anthem protests in National Football League for its lower sales for the fourth-quarter and full year. Sanderson Farms, which is one of the biggest chicken providers in the US, said that NFL protests involving players taking a knee during the national... Amazon would reportedly sell Google's Chromecast streaming adapter for this Christmas. The online retailer giant has banned the product from its site for the last two years and has presumably settle the issues. Though the product is not available for sale, it has listed 4K-capable Chromecast Ultra adapter. Europe's no-frills airline Ryanair recognized pilot union for a smooth holiday season ahead. The airline had a discussion with its pilots union in Britain, Germany, Italy, Spain, Ireland, Portugal to iron out the issues. The pilots working for Ryanair have been enjoying different status and many of them were reportedly not in the rolls as full timers.
comments powered by Disqus
Follow RTT