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Jan
30
Indian pharma major Wockhardt to cut UK jobs
Filed Under Healthcare, India Business | Leave a Comment
Indian pharmaceutical major Wockhardt is cutting jobs in its British division due to a steep fall in orders from the Unites States.
Wockhardt UK, based on the Wrexham Industrial Estate, is shedding 18 night shift posts. The redundancies will reduce the workforce to 307.
Company managing director Sijiwan Singh said it was unfortunate, but a sign of the times. He said, “To a great extent our clients for pharmaceutical and biotechnology products are in the US. But because of the credit crunch financing is becoming incre asingly difficult. It is unfortunate, but with this whole meltdown, our clients and orders are diminishing day by day.”
Singh said the night shift affected by the job cuts was only started in addition to the two existing shifts after an upsurge last year. But the company, which manufactures medicine, vaccines, nutrition products, and pharmacy ingredients, would now scale back to two shifts. The Wrexham plant is part of the international group with its headquarters in India. The cuts are the latest to hit the region as manufacturing industries struggle in the current economic gloom.
Aug
14
India’s Biopharma Surges on Outsourcing Boom
Filed Under Healthcare, India Business | Leave a Comment
A combination of a weakened currency and an urgent need to cut costs at big pharma companies is driving a surge of drug development and manufacturing business for India.
The Wall Street Journal says bad times in Big Pharma are spurring a boom for operators in India as well as China. And about the only near-term switch that could blunt the wave would be a decision to engineer a more valuable rupee.
But one analyst cautions that many Indian developers are finding that the transition from manufacturing generic drugs to devising new therapies can be hard.
“Two years ago, we thought Reddy would do it,” said Sandeep Shenoy, a strategist at PINC Capital. “Three years back, we thought Cipla might do it. Every one of them has had problems.”
Here’s the WSJ article .
