Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Register
To receive FREE breaking news email alerts for Pharming Group NV and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
This apparel maker has doubled its earnings per share in just two years and increased its annual earnings forecast from time to time, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's results. Here is a quick summary of the earnings reported after the bell on Nov 20. We have 20+ stocks listed here. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed... Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
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.