Decision on cost savings to create profitable growth
(Thomson Reuters ONE) -
The Board of Directors of Swedish Orphan Biovitrum (Sobi) has decided on a
number of measures to reduce the company's costs by approximately SEK 100
million on an annual basis. The savings will be generated gradually during 2011
with full effect as of 2012.
Cost savings and actions to improve efficiency will be implemented in all
functions. The measures are expected to involve a reduction of approximately 70
positions, most of which will be in preclinical development, CMC (Chemistry,
Manufacturing and Controls) and within Manufacturing and Quality Control/Quality
Assurance in Stockholm.
Despite the reduction in capacity in preclinical development, the goal is to
retain expertise and competence with the option to increase resources in the
future. In order to increase flexibility and reduce fix costs, external
resources will be used when needed. These changes will not affect clinical
development projects that are currently in progress.
Negotiations will now begin with the relevant trade unions.
"By taking these steps we will increase flexibility and reduce costs. I regret
that this will also involve staff cuts, but unfortunately this is necessary in
order to secure Sobi's future profitability. We have a number of product
launches in progress and several late-stage development projects with great
market potential and these projects require large resources. In addition, we are
creating possibilities for growth through business development and geographical
expansion," says CEO Kennet Rooth.
For more information, please contact:
Kennet Rooth, CEO
Phone:+46 8 697 20 00
About Swedish Orphan Biovitrum (Sobi)
Sobi is a Swedish based niche specialty pharmaceutical company with an
international market presence. The company is focused on providing and
developing specialist pharmaceuticals for rare disease patients with high
medical needs. The portfolio consists of about 60 marketed products and an
emerging late stage clinical development pipe-line. Our focus areas are:
hemophilia, inflammation/autoimmune diseases, fat malabsorption, cancer
supportive care and inherited metabolic disorders. In 2010 Sobi had revenues of
about SEK 1.9 B and approximately 500 employees. The share (STO: SOBI) is listed
on NASDAQ OMX Stockholm. For more information please visitwww.sobi.com.
Swedish Orphan Biovitrum may be required to disclose the information provided
herein pursuant to the Swedish Securities Markets Act. The information was
provided for public release on March 29, 2011 at 8:25 a.m. CET.
Sobi PR Decision on Cost savings in PDF format:
http://hugin.info/134557/R/1501091/436430.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Swedish Orphan Biovitrum AB (publ) via Thomson Reuters ONE
[HUG#1501091]
Unternehmensinformation / Kurzprofil:
Datum: 29.03.2011 - 08:26 Uhr
Sprache: Deutsch
News-ID 52889
Anzahl Zeichen: 3539
contact information:
Town:
Stockholm
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 295 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Decision on cost savings to create profitable growth"
steht unter der journalistisch-redaktionellen Verantwortung von
Swedish Orphan Biovitrum AB (publ) (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
