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Syntex "cost reduction program"

Executive Summary

In response to "disappointing results" in the first two months of FY 1993, Syntex announced Oct. 21 that it will undertake a restructuring of "some" marketing and administrative organizations, the elimination of "a number of positions" and "reprioritizing [of] some" R&D activities. Syntex said it plans to consolidate "some production facilities at a later date." Details of the plan are sketchy: "no final decisions have yet been made regarding the number of positions and programs to be eliminated ...nor [has the company] definitively determined the financial impact of such actions," Syntex explained. A spokesperson said the program will be completed "within the next couple of months." Syntex' Toradol analgesics line is not performing up to expectations while the clock is running out on the firm's naproxen patent.

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