Abbott reorganizes cardiovascular division
(Les Echos online – December 6, 2007)
Abbott has decided to reduce its cardiovascular workforce by 1,200, including 500 in Ireland and 700 in California. In Ireland, a factory in Galway will be closed by Q1 2008. This business unit specializes in the production of stents.
http://www.aboutpharma.it/notizia.asp?id=15107
"At Sorin, one employee in 6 risks their job"
(Free market: page 6 – 6 December 2007)
Sorin Biomedica, a company of the Sorin group listed on the Stock Exchange, with a stake of 25.9% in Hopa, recorded a consolidated net loss of 236.4 million euros in the first half of the year against a profit of 1.4 million in the same period of 2006. On 26 November a period of layoffs of 7 weeks was also concluded for around 300 workers. It is therefore feared that layoffs may occur in the near future. A positive figure: the group continues to invest in R&D (+15.6%). The new business plan will be presented in mid-January.
http://www.aboutpharma.it/notizia.asp?id=15105
"The accounting conundrum of abolished tickets"
(Il Sole 24 Ore: page 2 – 6 December 2007)
An amendment of the Finance law extended the abolition of the 10 euro co-payment on outpatient assistance to the whole of 2008. The cost of the maneuver is 830 million euros, a third of which was covered by an intervention on the 'Amadori Fund', fed by EU contributions. However, the State accounting office denied the approval of this coverage because, if in terms of financial competence (net balance to be financed), the coverage was valid, it was not instead for the economic competence, i.e. for the net debt of the administrations . The President of the Budget Commission of Palazzo Madama, Enrico Morando, will promote an in-depth study on the issue in January.
http://www.aboutpharma.it/notizia.asp?id=15103
"Liberalisations slip on medicines"
(Il Sole 24 Ore: page 3 – 6 December 2007)
The government's bill on liberalization formally stumbled over the dilemma of whether or not class C drugs should be sold even outside pharmacies and was forced to stop as the Senate Industry Commission's session calendar was full up to end of the year. The slowdown is also due to the disagreement that emerged during a summit held last night between Minister Bersani, who is in favor of liberalization, and the Turkish Minister, who is against it.
http://www.aboutpharma.it/notizia.asp?id=15102
USA: Pfizer invests in painkillers
(Les Echos online – December 5, 2007)
Thanks to the agreement signed with Adolor Corporation, Pfizer intends to develop a new class of opioids and place innovative pain treatments on the US market. Under this deal, Pfizer and Adolor split revenue and expenses 60/40. Elsewhere, Pfizer assumes all development expenses and Adolor receives royalties on sales. In addition, the US giant will pay 31.9 million dollars to Adolor, a sum that could reach 232.5 million dollars based on the results obtained. The collaboration concerns two molecules: ADL5859, currently in phase II, for the treatment of pain caused by arthritis
