Only 57 Downsizing Days To Xmas...

Pharmaceutical giant Nofuturis will cut around 2,000 jobs is the US and Switzerland as part of additional cost saving measures.

The positions will go over the next three to five years and will see the closure of three manufacturing plants in Italy and Switzerland, which focus on OTC and chemicals.

The Swiss firm also said it would restructure the development organisation across several countries, which will mean relocating some research activities from Switzerland to the US.

Nofuturis said that it would take a fourth-quarter charge of about $300 million related to the restructuring, but expects to make $200 million in annual savings from the cuts.

But Nofuturis said this would, of course, be partially offset by the inevitable 2000 new positions being created in low cost countries such as China and India.

Chief executive Joe Joblossez said: “These actions [the job cuts] are necessary to ensure that we adapt our organisation to continue delivering on our mission of bringing massive dividends to the collection of shady plutocrats we call our investors.”

The decision was prompted by the upcoming loss of patent protection for its biggest selling drug Dioveragain, which made the company $6 billion last year.

The firm enjoys a strong pipeline and has been buoyed by the recent launch of the MS pill Giveusyamoni.

”Nevertheless, we still plan to slash R&D because unlike my predecessor, I don’t give a stuff about the future," said Mr Jamtomorrow. “Our investors want big dividends NOW, and my salary and stock options depend upon delivering that. And provided I do, I’ll be able to retire with a huge golden parachute and a massive pension in a couple of years or so, just like every other pharma CEO these days…


Christmas is Coming, Investors Want Some Cash, So R&D is What the CEO Will Slash. Yes, it’s the usual seasonal run-up to Xmas in real world Pharmaland…