ARTICLE | Company News

Abbott pharmaceuticals news

October 4, 2010 7:00 AM UTC

Abbott will restructure and reduce headcount by about 3,000 (3%) to about 90,000 to cut costs following its acquisition of the pharmaceuticals business of Solvay S.A. (Euronext:SOLB, Brussels, Belgium) in February. Abbott said most of the cuts would be former Solvay employees and would come from manufacturing, commercial, administrative and R&D areas. Last week, Abbott sold Solvay's Parets manufacturing facility to Recipharm AB (Stockholm, Sweden) for an undisclosed sum (see BioCentury, Feb. 22). ...