Cost savings for GlaxoSmithKline
(Les Echos online, International Herald Tribune: p. 18, The Financial Times online – 25 October 2007)
GlaxoSmithKline has announced plans to reduce annual spending by £700m by 2010. This will involve cutting staff in sales, manufacturing and R&D. The 3rd quarter results reveal that the company's turnover grew by only 1% to £5.5bn and net income fell by 6% to £1.3bn.
http://www.aboutpharma.it/notizia.asp?id=14690
"Hisi is born, to invest in healthcare"
(Libero Mercat page 13, Il Sole 24 Ore Finance & Markets: page 47 – 25 October 2007)
Hisi, Holding of Investments in Healthcare and Infrastructures, was established. Promoted by Techint and participated by Capitalia Merchant and Axa Private Equity, the fund's objective is to invest in projects under concession, particularly in the healthcare sector. The Techint group holds 20% of the fund's shares, while Capitalia and Axa each have 40%. The CEO of the company, Luca Pecchio, expects 'by the end of next year, to participate in operations for a total amount exceeding 550 million euros'.
http://www.aboutpharma.it/notizia.asp?id=14689
Sanofi-Aventis suffers on the French market
(Les Echos online – October 25, 2007)
In 2007, Sanofi-Aventis' turnover in France declined mainly due to competition from generics. The company has not released figures, but available statistics show that, in the first half, sales fell by 6%. Sanofi-Aventis also announced the layoff of 40 people in Canada.
http://www.aboutpharma.it/notizia.asp?id=14688
Générale de Santé: results down
(Les Echos online – October 25, 2007)
In the first 9 months of 2007, Générale de Santé recorded a net profit of 31.8 million euros, down by 84.8% compared to 2006. This is mainly due to the increase in rents to be paid following the sale of the walls in 2006. The operating result also decreased (-76.9%), stabilizing at 66.8 million euros. Turnover increased by 8.6% to 1.40 billion euro.
http://www.aboutpharma.it/notizia.asp?id=14686
"Pain therapy. Italy lagging behind, lack of centres"
(Corriere della Sera: page 19, Il Sole 24 Ore: page 32, Liber page 33 – 24 October 2007)
The Italian Society of Palliative Care (SICP), on the occasion of the presentation of the national congress to be held in Perugia from 13 to 16 November, denounced the fact that for the 250,000 terminally ill Italians there are only 114 'hospices' which guarantee palliative care to those affected by incurable diseases, starting with tumours. About 200 structures would be missing, for the construction of which the necessary funds have already been allocated: 206 million euros between 1999 and 2002 and another 100 with the 2006 Budget. The distribution of the already operational centers is not homogeneous: the North is the
