Breaking News on Global Pharmaceutical Technology & Manufacturing

Oscient cuts workforce by 33%

16-Feb-2009

Related topics: Regulatory & Safety

 

Oscient Pharmaceuticals is to reduce its workforce by 33 per cent as pharma industry uncertainty slows sales.

 

 

The move, which will leave the Massachusetts-based firm with a staff of 205, is part of a bid to cut annual costs by around $8m (€6.2m) a year.

 

 

 

Chief Executive Steven Rauscher said that "Even with recent steps to extend debt maturities and reduce the company's overall indebtedness by more than $125 million, we believe it is necessary and prudent to take the additional steps announced today."

 

Copyright - Unless otherwise stated all contents of this web site are © 2012 - William Reed Business Media SAS - All Rights Reserved - For permission to reproduce any contents of this web site, please email our Syndication department copyright@wrbm.com - Full details for the use of materials on this site can be found in the Terms & Conditions

© 2012 - William Reed Business Media SAS - All rights reserved.