Sanofi (France) (SAN.PA) Shutters UK Plant and Axes 450 Jobs
3/14/2012 7:04:29 AM
A pharmaceutical plant on Tyneside is to close with the loss of 450 jobs. French-based Sanofi, which specialises in vaccine development and diabetes treatments, said the posts were going at its facility in Fawdon, Newcastle. The company, which briefed staff about the decision on Wednesday morning, said the drug manufacturing plant would close down in 2015. The company blamed the closure on the growing use of low-cost generic drugs and the European economic downturn.