Actelion unveils new cost-saving initiative

Actelion has revealed details of a new cost-saving initiative that will support the company's efforts to refocus its research and development (R&D) activities.

The Swiss-based firm is currently aiming to redirect its R&D resources towards orphan and specialty indications in order to generate additional specialty franchises, as its existing clinical pipeline is focused on immunomodulation and antibiotics.

It said that several challenges, such as the increased strength of the Swiss franc and greater competition in the US market, have made the implementation of a cost-saving strategy necessary.

"In order to take full advantage of the growth opportunities ahead of us, we must take decisive action now," said chief executive of Actelion Jean-Paul Clozel.

"We will maintain the earning power of our business, thereby balancing long-term growth opportunities with short-term profitability enhancement," he added.

The firm said the refocusing of its R&D department will result in lower and more targeted spending.

Actelion intends to make some redundancies as part of the cost-saving plan, but will aim to minimise the number through measures such as natural attrition and early retirements.