SoCalDem
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Fri Aug-03-07 02:26 AM
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JOHNSON & JOHNSON Slow sales, expiring patents to force cuts |
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JOHNSON & JOHNSON Slow sales, expiring patents to force cuts
Chicago Tribune, United States - Aug 1, 2007 AP August 1, 2007 NEW BRUNSWICK, NJ —
Johnson & Johnson said Tuesday that it would reduce its global workforce by as much as 4 percent, or 4820 jobs, ...
Slow sales, expiring patents to force cuts
Associated Press August 1, 2007
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NEW BRUNSWICK, N.J. - Johnson & Johnson said Tuesday that it would reduce its global workforce by as much as 4 percent, or 4,820 jobs, to cut costs because of a slump in sales of its heart stents and its No. 2 drug, plus looming expirations for key drug patents.
The company predicted the restructuring would entail pretax charges totaling $550 million to $750 million in the second half of 2007, and would include additional, unspecified steps besides job cuts. Johnson & Johnson said the moves are expected to generate pretax, annual cost savings of $1.3 billion to $1.6 billion next year.
Johnson & Johnson said the restructuring primarily targets its drug segments, which face significant patent expirations over the next few years, and its Cordis stent unit.
snip...
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Horse with no Name
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Fri Aug-03-07 02:28 AM
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1. When they say global workforce |
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What they really mean is that they are closing plants in the US. I'm so tired of the media spin.:(
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SoCalDem
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Fri Aug-03-07 02:31 AM
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2. like when they say "coalition forces"..n/t |
napi21
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Fri Aug-03-07 02:54 AM
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3. So where can I find out which patents are expiring? |
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I am sorry for the 5,000 people who will lose their jobs, but that's a risk in any company. I want to know what drugs these gougers are losing their patent rights on that will now be available as a generic!
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DU
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Mon May 06th 2024, 02:56 AM
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