The world’s second biggest drug company, GlaxoSmithKline, is to cut 350 jobs from its research and development team in a bid to boost productivity
The cuts, which are in line with the firm’s ongoing restructuring response to increased generic competition and a thinning pipeline of potential future drugs, represent about 2% of the company’s R&D workforce.
In a statement Glaxo said: “We continue to reshape our R&D operations to take advantage of new scientific opportunities and improve GSK’s productivity. Regrettably some job reductions are necessary and we will do everything we can to support those employees who are affected.”
In October Glaxo announced that it planned to cut some jobs and possibly close some sites as part of a Â£1.5 billion cost cutting programme to include increased research and development and streamlined manufacturing.
Glaxo employs 17,000 R&D staff across Europe and the United States, including Harlow, UK, and Verona, Italy.
It had previously split its research operations into therapeutic areas in a move to boost innovation and bring new drugs into the market. Other pharmaceuticals have begun to rationalise R&D units to reflect new scientific breakthroughs and the more challenging marketplace.
Copyright Â© PA Business 2008