Glaxo cuts jobs to save Â£700m a year
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Business & money: US sales of top selling diabetes drug down 50% after tougher regulation and generics hurt entire sector.
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General Motors Corp., the world&#39;s biggest carmaker, will save 500 million euros ($664 million) annually after cutting 11,500 jobs and reorganizing its European division.
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Glaxo expects that the impact of lower sales of its diabetes drug, Avandia, will help cause a drop of about 5 percent in earnings a share in 2008.
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OTTAWA -- A federal pharmacare program would save the Ontario government $3.7 billion annually, freeing up money the province spends on drugs so it can invest in a plan to shorten hospital waiting times, Premier Dalton McGuinty said yesterday.
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Switzerland's Novartis AG will slash 2.5 percent of its global workforce, aiming for annual savings of $1.6 billion in 2010, becoming the latest major drugmaker to undertake a deep restructuring.
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Drugs giant GlaxoSmithKline agrees to pay out a record $3.1bn to end a tax row with the US government.
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GlaxoSmithKline's GSK.L experimental   vaccine against a virus that causes cervical cancer could cut   the number of cases and deaths from the illness by up to 76   percent, the drug company said on Monday.
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Drug wholesaler Cardinal Health Inc.  said on Monday it would cut 4,200 jobs, or 7 percent of its work force, and close 25 facilities around the world as part of a plan to reduce costs.
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GlaxoSmithKline Plc  has signed a  drug discovery deal with U.S. biotech firm ChemoCentryx  potentially worth up to $1.5 billion in milestone payments and  research funding to the privately owned group.
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GlaxoSmithKline said it would cut jobs as part of a cost-savings plan after a sharp drop in sales of its diabetes drug and generic competition led to a 5.8 percent drop in profits.
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GlaxoSmithKline sees profits for 2004 fall 9%, but Europe's biggest drugmaker says a recovery during 2005 is on the way.
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Pharmaceutical giant GlaxoSmithKline said Thursday that net profits fell in 2007 due to disappointing sales of the diabetes drug Avandia and increased competition from generic drugs makers.
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Computer Associates International Inc. announced a restructuring plan Wednesday that would reduce its work force by 800 people worldwide, saving the business software maker $70 million annually once the plan is fully implemented.
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: Consumer goods maker Colgate-Palmolive Co said on Tuesday it would cut about 12 per cent of its 37,000-person work force and close one-third of its factories worldwide as part of a four-year restructuring.
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GlaxoSmithKline's  experimental  vaccine against a virus that causes cervical cancer could cut  the number of cases and deaths from the illness by up to 76  percent, the drug company said on Monday.
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General Motors Corp., the world&#39;s biggest carmaker, will save 500 million euros ($664 million) annually at its unprofitable European unit after reaching an agreement with unions to cut 11,500 jobs and reorganize.
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The British pharmaceuticals giant GlaxoSmithKline announced a nine percent drop in annual pretax profits which were hit by sales of generic drugs and a weaker dollar, but the group looked ahead to a strong 2005.