Lundbeck Inc. (LUN.CO) to Cut 600 Jobs in Europe to Contain Costs
6/14/2012 6:46:33 AM
Danish drugmaker Lundbeck said on Thursday it would cut around 600 jobs in its commercial organisation in Europe to reduce costs and would book restructuring charges of up to 500 million Danish crowns ($84.60 million) as a consequence. Lundbeck said in a statement the action would be taken to mitigate increased pressure from healthcare reforms, generic competition and uncertainty regarding pricing and reimbursement in Europe. "The market environment in Europe is changing rapidly at a time when Lundbeck has numerous new products to launch," Chief executive Ulf Wiinberg said in the statement.