Wyeth to close Premarin plant, declining sales to blame
In a news release, Wyeth said it plans to phase out manufacturing at the plant and halt all operations by late 2008. Staff reductions will begin in 2006 and extend over the next three years.
Sales of post-menopausal hormone therapies have been significantly hurt by studies showing women who take hormones after menopause have a greater risk of breast cancer, stroke, heart attack, incontinence and dementia.
A Wyeth spokesman told The Wall Street Journal the plant employs 1,200 workers.
The spokesman couldn't immediately estimate the number of workers expected to leave the company or the anticipated costs of the move, according to the Journal report.