Novo Nordisk Ups Lay Offs In R&D Push; Preps UK Supply Chain For Hard Brexit
Executive Summary
Novo Nordisk's decision to free up resources for R&D investment means 1,300 lay-offs across the company by the end of the year. The Danish group is meanwhile stockpiling medicines and bolstering its supply chain outside the UK in case of a 'no deal' hard Brexit, its CEO says.
You may also be interested in...
Q4 Pharma Earnings Preview: Roche, Celgene, Novo Nordisk, Merck, Gilead
Roche will highlight newer drugs as cancer blockbusters feel biosimilar pressure, while Celgene will talk to investors about its pending acquisition by Bristol. Novo Nordisk has faced concerns about generic and branded competition not to mention price pressures, but its longer-term outlook is sound; Merck's Keytruda tops investors' focus; Gilead looks ahead to new CEO O'Day.
Novo Nordisk Cuts 400 Jobs In R&D Reshuffle As It Broadens Its Horizons
Novo, which is under pressure to diversify and signaled plans to cut jobs back in August, will lay off 400 people as it reallocates resources to more efficiently bring in novel products through both R&D and business development, continuing a deal-making spree that's already under way.
Job Cuts As Nordic Nanovector Extends Cash Runway
Shrinking cash and COVID-19 uncertainty have prompted Nordic Nanovector to slash costs and focus purely on its lead asset’s pivotal trial in third-line follicular lymphoma.
Need a specific report? 1000+ reports available
Buy Reports