Actelion provides details on restructuring effort

Actelion Ltd. (SIX:ATLN) said it will cut up to 135 positions, or about 5% of its approximately 2,500 employees, as part of a plan announced in May to reduce spending by refocusing R&D activities on specialty areas. The cuts will affect R&D and administration. Actelion is also conducting a portfolio review as part of the restructuring and said it will provide details during the company's 2Q12 financial results conference call on July 19. The company did say on Thursday that it is seeking a partner for ponesimod, a sphingosine 1-phosphate receptor 1 ( S1PR1; S1P1; EDG1) agonist in Phase II testing for multiple sclerosis (MS) and plaque psoriasis. ...