Warner Chilcott plans to axe 500 jobs in Europe | InPharm

Published on 20/04/11 at 07:30am

Warner Chilcott is looking to cut 500 jobs from its European operations as it seeks to minimise the impact of a key impending patent expiry.

The Dublin-based firm plans to restructure its Western European operations in Belgium, the Netherlands, France, Germany, Italy, Spain, Switzerland and the UK.

Warner Chilcott said this would affect around 500 jobs during the restructuring period, which was expected to last until 2012.

A handful of locations will emerge unscathed from the cuts, with facilities in Ireland and Weiterstadt, Germany, and its commercial operations in the UK all set to continue as they are.

The company’s decision has been prompted by the impending patent loss of its osteoporosis treatment Actonel in Western Europe.

This will be particularly painful for sales in the region as Actonel accounts for 70% of the company’s Western Europe revenue and the restructuring plans are expected to bring charges of around $130 million during the next year.

The company is hopeful its new osteoporosis treatment Atelvia and contraceptive Loestrin will help pick up sales lost from Actonel.

Hans van Zoonen, president, Europe/International and global marketing of Warner Chilcott, said: “We have conducted a strategic review of our European operations in the context of the recent loss of exclusivity of Actonel in Western Europe.

“The restructuring initiative will allow us to focus on growth opportunities that match Warner Chilcott’s key competitive strengths, including the launches of Atelvia and Loestrin in the US.”

Zoonen added that this was the most appropriate course of action for the company and was in the best interest of its shareholders.

Ben Adams

via inpharm.com

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