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
International Business Machines Corp. (IBM) Monday predicted that Cyber Monday online sales would grow by more than 18 percent compared to 2014. Driven by a surge in mobile shopping, consumers indicate that Samsung, Sony and LG TVs as well as Apple Watch and Beats by Dre are at the top of their shopping... As the Black Friday din settles down, it is time to look back at how various players and products fared and Adobe has offered some insight into just that. Mobiles and smartphones sold like hot cakes, according to online shopping data released by Adobe. After nearly a 2-year hiatus following its announcement that it is testing unmanned drones, Amazon finally offered a glimpse into the prototype and its functioning. It remains to be see if the company can work around regulatory hurdles to make it a reality.
comments powered by Disqus
Follow RTT