Genzyme Plant Expansion | Allston
- Thread starter kz1000ps
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Not sure if this is the right thread for this, or what impact it may have on Boston/Cambridge architecture, but it certainly looks like Genzyme jobs in the Boston area are getting cut. Looks like R&D (one of the higher rungs of the economic food chain) is being targeted in particular.
Gotta love the mergers that effectively eliminate local companies...
http://online.wsj.com/article/SB10001424052970203716204577013930254809686.html
Sanofi to Cut Jobs, Consolidate U.S. Facilities
By PETER LOFTUS
Drug maker Sanofi SA will eliminate jobs in its sales and research-and-development organizations and will consolidate North American facilities in a restructuring aimed partly at reducing costs in the face of drug-patent expirations and economic weakness.
The France-based company, which employs about 18,000 in North America, didn't specify how many jobs would be cut. The company informed employees of the moves in meetings Wednesday.
"There will be some impact on jobs," said Sanofi spokesman Jack Cox.
As with other drug makers, Sanofi has already reduced its work force in recent years in response to revenue pressures such as patent expirations. The company soon will lose U.S. market exclusivity for blood-thinner product Plavix and blood-pressure medication Avapro, both of which are co-marketed with Bristol-Myers Squibb Co.
Sanofi cited additional factors in the planned job cuts, including the integration of newly acquired Genzyme, generic competition, regulatory and payer pressures, a depressed economy, government deficit-reduction efforts and health-care reform.
Sanofi said it is consolidating its North American drug-discovery and early-development operations in Boston, where its presence was bolstered by the acquisition of Genzyme. At the same time, it is creating a new drug-development center at its North American headquarters in Bridgewater, N.J.
As a result, Sanofi will close an existing R&D site in Bridgewater in the fourth quarter of 2012. The company said it is still evaluating how many of these jobs will move to other facilities, so it is too early to specify the number of layoffs.
Also, Sanofi said it will reduce its U.S. sales force primarily among representatives who promote cardiovascular and oncology products. Sanofi will offer a voluntary separation program for sales reps, and existing vacancies may create opportunities to move reps into other areas of the business, it said.
Write to Peter Loftus at peter.loftus@dowjones.com
Gotta love the mergers that effectively eliminate local companies...
http://online.wsj.com/article/SB10001424052970203716204577013930254809686.html
Sanofi to Cut Jobs, Consolidate U.S. Facilities
By PETER LOFTUS
Drug maker Sanofi SA will eliminate jobs in its sales and research-and-development organizations and will consolidate North American facilities in a restructuring aimed partly at reducing costs in the face of drug-patent expirations and economic weakness.
The France-based company, which employs about 18,000 in North America, didn't specify how many jobs would be cut. The company informed employees of the moves in meetings Wednesday.
"There will be some impact on jobs," said Sanofi spokesman Jack Cox.
As with other drug makers, Sanofi has already reduced its work force in recent years in response to revenue pressures such as patent expirations. The company soon will lose U.S. market exclusivity for blood-thinner product Plavix and blood-pressure medication Avapro, both of which are co-marketed with Bristol-Myers Squibb Co.
Sanofi cited additional factors in the planned job cuts, including the integration of newly acquired Genzyme, generic competition, regulatory and payer pressures, a depressed economy, government deficit-reduction efforts and health-care reform.
Sanofi said it is consolidating its North American drug-discovery and early-development operations in Boston, where its presence was bolstered by the acquisition of Genzyme. At the same time, it is creating a new drug-development center at its North American headquarters in Bridgewater, N.J.
As a result, Sanofi will close an existing R&D site in Bridgewater in the fourth quarter of 2012. The company said it is still evaluating how many of these jobs will move to other facilities, so it is too early to specify the number of layoffs.
Also, Sanofi said it will reduce its U.S. sales force primarily among representatives who promote cardiovascular and oncology products. Sanofi will offer a voluntary separation program for sales reps, and existing vacancies may create opportunities to move reps into other areas of the business, it said.
Write to Peter Loftus at peter.loftus@dowjones.com
stellarfun
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Itchy, au contraire, jobs being moved to Boston apparently.
http://www.boston.com/Boston/busine...oikRVL5qZ4eggoJ5dMJ/index.html?p1=Upbox_links
http://www.boston.com/Boston/busine...oikRVL5qZ4eggoJ5dMJ/index.html?p1=Upbox_links
whighlander
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Stel -- this is the same low key entre to the Cambridge/Boston that Novartis made about a decade ago -- now Novartis has become one of the largest employers in the Kendal/MIT area
My guess is that Sanofi bought Genzyme for the same reason -- to get into the Kendal/MIT area -- in a decade or so it will be competing head to head for talllent in Kendal with Novartis, Pfizer (first marker at 610 Main St.) and at least one more of the Global Druggies (some of whom already have a small footprint locally)
1) Pfizer $41.7
2) Novartis $36.7
3) Sanofi-Aventis $35.1
4) GlaxoSmithKline $34.3
5) AstraZeneca $33.2
6) Roche $31.3
7) Johnson & Johnson $26.9
8) Merck & Co $25.0
9) Eli Lilly $19.6
10) Abbott $19.4
found5dollar
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this building has always reminded me of Gotham... especially with its night lighting.