Issue Date: April 9, 2007
Nycomed slashes jobs
Nycomed is cutting roughly 10% of its workforce, or 1,250 employees, following its acquisition of Altana Pharma. The goal is to improve efficiency and increase R&D productivity in preparation for generic competition to the ulcer medication Protonix, the company's best selling product. Protonix, which originated at Altana, is slated to lose patent protection in Europe in 2009 and in the U.S. in 2010. About 585 of the job cuts will come from the company's R&D organization. Altana's former headquarters in Konstanz, Germany, will be hit by 790 layoffs.
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