logo
Share SHARE
FONT-SIZE Plus   Neg

Pharming Group NV To Restructure Dutch Opns., Axe Jobs - Quick Facts

Biotech company Pharming Group NV (PHGUF.OB,PHGUF.PK) revealed a strategic restructuring plan of its Dutch operations to accelerate its path to sustainability and future profitability. The proposed restructuring plan was filed with the Dutch authorities, with the process entailing a formal procedure, required when there is a need for downsizing of an organisation by 20 staff or more.

Following the completion of this restructuring, the organisation would have maintained full capabilities to execute technology transfers of platform technology and product processes as well as retaining all product development associated know-how. In addition, Pharming would continue to participate in existing collaborative product development and to pursue potential partnerships in the future.

Therefore, the company would maintain sufficient personnel to achieve these strategic objectives by aligning the staffing resources and potential partnering requirements of the organisation with its strategic needs post the anticipated finish of Study 1310 and submission of the Ruconest BLA to the FDA. As a result, the company targets to reduce costs by some 3.5 million euros - 5 million euros annually over the coming 12-18 months. The timing of the plan would be influenced by external and internal influences.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Federal Aviation Administration said several pilots complained about pointing of strong green laser beams at planes flying over Long Island. The location was around Farmingdale, during 9.30 pm and 10 pm. Searches are on to locate the exact source of the laser beam. The Federal official suspects that the beam came from a hand-held device. Discount retailer Big Lots, Inc. Friday reported an increase in income from continuing operations for the first quarter, from last year. The company also registered a surge in net income particularly as it had carried a loss from discontinued operations last year. Taco Bell, a division of Yum! Brands Inc, is planning to test delivery of food items on college campuses, the Street reported. The move comes at a time the fast food chain seeks to leverage demand for its popular breakfast and dinner items.
comments powered by Disqus
Follow RTT