Several news sources in Germany are reporting that Grunenthal are planning to cut staffing by around 10% (195 of 1900) at their head office in Aachen, following disappointing sales. Reports suggest that R&D functions will be heavily impacted, although efforts will be made to minimise compulsory redundancies. Reports also suggest that development of later phase products will continue, although it is not clear whether cuts will focus on early phase or pre-clinical.
This change in strategy comes months after Prof. Dr. Eric-Paul Pâques was appointed as CEO and Chairman of the Corporate Executive Board, and weeks after the company announced a major expansion into the South American market with the acquisition of Laboratorios Andrómaco S.A.
The company has not yet issued a formal statement on these redundancies, and we will update this item as we receive more information.