R&D Restructurings Aim To Placate Investors While Pharma Waits For Results
In response to poor R&D productivity and declining revenue as drug patents expire, Big Pharma companies have shrunk drastically to keep shareholders happy while they try to retool moribund R&D strategies.
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Sanofi says it will cut up to 900 jobs in France over the next three years to make its R&D operations there more efficient – that’s less than half the number foreshadowed in July by French trade unions and after the drug maker came under public pressure from the country’s left-wing government.
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.
European Pharma In Cost-Cutting Mode: Actelion Axes 135 Positions, Sanofi Aims At French R&D Consolidation
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.