Boehringer Ingelheim has announced a job cut in the US. In particular, the administrative and sales departments will be downsized. The savings that the company will produce will be reinvested in research and development.
The job cuts should be completed by August. The company has announced that 49 of the seats to be reduced will concern the headquarters in Danbury, Connecticut. The spokeswoman, Erin Crew, in a statement stressed that it was a difficult decision to make, but that many excluded will be able to apply to rejoin the company in other roles. “The measures we are taking now – explained Crew – will help us reinvent the way we meet the needs of our patients and will allow us to continue making significant investments”.
The cuts have become necessary as Boehringer began to grapple with the entry of generics into the market. In particular, last year sales of the cardiovascular drug Micardis would have greatly reduced. In 2014 the German company had already announced a reduction of 900 jobs to reduce the costs of the 15%. While last summer it announced the sale of the American generic unit Roxane Labs for 2.65 billion dollars. The deal ended up closing, however, for only 525 million dollars.
On the other hand, the outlook on the diabetes front is improving, where revenues increased by 49% to $1.1 billion. And the future in this field is bright, considering the partnership with Eli Lilly for six different drugs.
With the job cuts, the German company joins other companies that have already set up similar measures. For example, AstraZeneca announced earlier this year that it would cut jobs to save up to $1.1 billion to invest in new drug development.
July 6, 2016 – Daily Health Industry
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