Novo Nordisk continues restructuring, builds new stem cell facility in USA

1 October 2018

Copenhagen-based diabetes giant Novo Nordisk (NOV: N) has announced that it will reduce its US workforce by around 250, just two weeks after revealing an R&D overhaul that will see around 400 jobs lost in Denmark and China.

Danish press previously reported that the firm may be planning to lay off up to 3,000 of its American workforce, amid continuing pricing pressures in its insulin business and the expectation that new legislation would negatively impact sales by up to 2%.

Meanwhile, Novo Nordisk announced the establishment of a new manufacturing site in California which will focus on the development and production of stem cell-based therapies.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK