Altana Pharma is reorganizing its U.S. operations, shuttering a research institute and dismantling a sales and marketing group as it lays off 400 workers. Altana's Waltham, MA research office will be closed in the first half of next year as projects are transferred to Germany. But most of the layoffs will occur in its marketing operation based in Florham Park, NJ. Altana said the restructuring was not related to the recent announcement that it was selling its drugs unit to Nycomed for $5.7 billion.
- here's the AP report on the restructuring
Altana sells drug unit to Nycomed. Report