Friday, November 27, 2015
Privately-owned French pharmaceutical company Servier said on Thursday it planned to cut 610 jobs and would reorganise its sales network due to competitive pressures and a tougher regulatory environment.
The firm said it had been penalised by patent losses, a rapid growth in generic drugs, regulated prices and delays in obtaining market clearance for its drugs.
A new organisation, which will be implemented in the second half of 2016, will result in a net loss of 610 jobs, the company said in a statement.
"This project is difficult but necessary to safeguard the competitiveness of our group in an increasingly difficult market environment," Servier's group president Olivier Laureau said in the statement.
The group, which reported revenues of 4 billion euros ($4.24 billion) in 2014, employs about 21,000 people worldwide.
reuters.com
