Latest Headlines

Latest Headlines

Teva looks for big savings from procurement, manufacturing

Teva Pharmaceutical Industries CEO Jeremy Levin put manufacturing efficiencies at the heart of his plans for Teva to cut costs when he first announced his plans in December. Today he stepped on the gas.

Teva plans to ramp up R&D after axing 5,000 staffers

Teva has sketched out plans to ax 5,000 employees, about 10% of the total workforce, with most of the cuts coming by the end of 2014. The company statement on the restructuring is light on details, but the company says it plans to use part of its $2 billion in savings from the reorganization on an expanded R&D effort.

Boehringer Ingelheim canning 1,100 workers as it ditches plant

After years of FDA chidings and resultant drug shortages, Boehringer Ingelheim is pulling the plug on its Ben Venue contract manufacturing business by the end of the year, planning to lay off 1,100 workers.

Vaccines spared as Merck takes ax to R&D

Merck once again reached for the ax this week, outlining plans to lay off 8,500 staff in a bid to save $2.5 billion a year. The reorganized company will focus R&D dollars on four areas, one of which is the vaccines business.

UPDATED: Merck to slash 8,500 more jobs in $2.5B global overhaul

The cuts come soon after Merck squeezed out its previous R&D chief to bring on Roger Perlmutter, who previously held that job at Amgen--and amid major sales losses to generic competition.

UPDATED: Struggling Merck slashing 8,500 jobs in major R&D, commercial reorganization

The pharma giant said that it will reorganize its R&D and commercial operations to narrow and sharpen its development focus and carve out $2.5 billion in annual expenses, eliminating a total of about 20% of its 81,000 staff jobs when these new cuts are added to existing restructuring plans.

Onyx spells out layoff policies as staffers brace for post-buyout cuts

Every time a biotech is bought out, there's always one big question on the minds of every rank-and-file employee not in line for a golden handshake: Will I have a job when the dust settles?

Lonza will cut 200 at Massachusetts plant by end of year

Lonza last month said it was going to phase out work at its troubled biologics plant in Hopkinton, MA, eventually cutting about 250 jobs. At the time it didn't put a timeframe on the moves, but it now says it is set to begin next month.

Boehringer Ingelheim to close U.S. plant, whack 240 workers

The writing has been on the wall for the Petersburg, VA, API plant since last year when Boehringer said it was evaluating the need for all of its capacity. It closed one unit there last month, whacking nearly 60 jobs, and then Thursday said the entire plant would have to go.

Coup de grâce for Boehringer Ingelheim Virginia plant

Last year, Boehringer Ingelheim closed a unit at its API plant in Petersburg, VA, due to cost pressures. It no sooner got that done than the German company announced today that it will close the rest of the operation by next year, costing about 240 positions.
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