European Pharma In Cost-Cutting Mode: Actelion Axes 135 Positions, Sanofi Aims At French R&D Consolidation
This article was originally published in The Pink Sheet Daily
Europe's leading biotech Actelion plans to cut 5% of its workforce, while Sanofi considers a major overhaul of its R&D sites in France, as competitive pressures and the European debt crisis continue.
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With a cost-saving initiative boosting earnings now rather than in 2014 there may be even greater pressure on Actelion’s next-generation PAH therapy – which has a PDUFA date of Oct. 19 – to replace the Swiss company’s aging top-selling product, Tracleer.
With patent erosion starting for Tracleer, its largest-selling product, Actelion outlines further details of its short- and medium-term strategy to reduce its reliance on the billion-dollar PAH therapy.
Sweden’s government has allocated 4 billion kroner for the R&D sector and SEK 600 million specifically for life science in the hopes of rejuvenating Swedish R&D and getting the nation back on the top rankings of medicine innovation. It’s a theme being heard in other European countries.