AMRI cuts US workforce 10%, and creates 180 jobs in Asia

[OhioChick]

26-May-2010

AMRI is reducing its US workforce 10 per cent and halting operations in one R&D lab at its facility in Rensselaer, New York as “softness” in the domestic market continues beyond its expectations.

The US job cuts, the second set the firm has made in the last 12 months , will affect around 80 positions, some of which are currently vacant, and are expected to generate cost savings of $4m (€3.2m) this year.

AMRI said the move is part of a shift in geographical focus that will see it invest around $30m in its operations in Asia and create 180 jobs at its operations in Singapore and India over the next few years.

CEO Thomas D’Ambra explained that increased customer focus on cost of services “has led to a continued shift in demand for AMRI’s services from the US to lower cost resources in Asia and Europe.”

He added that: “While we remain cautiously optimistic about a return in demand for contract research outsourcing by the biopharmaceutical industry, softness in the US market has extended beyond our expectations.”

This idea fits with comments made by spokesperson Andrea Schulz who told Outsourcing-Pharma earlier this month that: “continued soft demand from our US specialty pharma... customers” had caused a 9 per cent drop in Q1 revenue.

http://www.outsourcing-pharma.com/Contract-Manufacturing/AMRI-cuts-US-workforce-10-and-creates-180-jobs-in-Asia?nocount

[proudohioan]

1. I don't know what AMRI is,

but FUCK THEM and the horse they rode in on!

Haven't seen your OP's in a while, Ohiochick; hope all is well with you and your family.

:hi:

[OhioChick]

2. Albany Molecular Research Incorporated

Business Description:

Albany Molecular Research Incorporated. The Group's principal activity is that of providing scientific services, technologies and products. The Group's core business consists of a fee-for-service contract services platform encompassing drug discovery, development and manufacturing services, and a separate, technology division consisting of technology investments, internal drug discovery and generic active pharmaceutical ingredient product development. With locations in the United States, Europe and Asia, the Group provides customers with a range of services, technologies and cost models. Its customers include pharmaceutical companies and biotechnology companies and, to a limited extent, agricultural companies, fine chemical companies, contract chemical manufacturers, government research entities and non-profit organizations. It operates in two segments: Discovery/Development/Small Scale Manufacturing (DDS) and Large Scale Manufacturing (LSM) segment.

http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=012423109

Hey there, lady! :hi:
I hope you and your family are well.
I've been trying to take advantage of this gorgeous weather we're having. ;)

[proudohioan]

3. Thank you....

and yes, we're doing fine.

At the moment, it's a little warm and muggy for me, but it's supposed to cool down a bit tomorrow. However, in this muggy weather, the peonies are SO fragrant! I have a huge bouquet on my table right now.....mmmmm!


T.