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Celltech Group PLC (CLL): Closure Of Seattle Research Facility



10/19/2005 5:10:49 PM

Celltech Group plc (LSE:CCH) (NYSE:CLL) announced today a reorganisation of its R&D operations designed to rebalance resources between its research and development activities. It will close its novel target discovery facility in Seattle, US at the beginning of 2004, with certain key activities being transferred to other sites. The annualised savings deriving from this closure of approximately GBP11.5 million will be reinvested in R&D, with particular focus on accelerating Celltech's early stage development pipeline, including novel anti-inflammatory treatments CDP 484, CDP 323 and CDP 146.

Read at Prime Zone


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