Boehringer to cut costs by 15%
Boehringer Ingelheim plans to cut costs by around 15%, which means layoffs. PMLive found the pink-slip item in the German paper Frankfurter Allgemeine Zeitung. The news comes one day after the firm announced disappointing financials for the first half of the year—prescription sales slid 5.4%, to $6.4 billion. The company attributed part of the falloff to deeper discounts required to fit into the post-healthcare-reform marketplace in the US.
PMLive says it is unclear if the layoffs will be distributed throughout the global 45,000-employee workforce or limited to Germany.