Swiss pharmaceutical firm Actelion (ALIOF.PK) said it is reaffirming its full-year 2012 core earnings view of growing in the mid single-digit percentage range, excluding any impact from movements in provisions relating to receivables in Southern Europe. On the same 2012 basis, the company expects to maintain core earnings in 2013 at this higher projected 2012 level, in local currencies, and expects to return to single-digit growth in 2014 and double-digit growth by 2015.
Further, Actelion announced that it has concluded the Swiss employee consultation process regarding the cost savings initiative announced in early July, also implementing the cost saving initiative. According to the company, the cost savings would start to take effect in the latter part of 2012 and accelerate in 2013, and is likely to result in a reduction of up to 135 positions in Research & Development and in administration.
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