ASTA Medica divides up business
ASTA Medica AG, the wholly-owned pharmaceutical subsidiary of Germany'sDegussa-Huels, has completed the first phase of its previously-announced restructuring plan (Marketletter May 29) by establishing three independent business units.
The three units - prescription medicines and health care, oncology and the generic business Arzneimittelwerk Dresden will operate as independent companies and have 4,000 employees between them after 1,300 jobs are cut. Degussa reiterated its intention to divest ASTA Medica and its restructured businesses during the first quarter of 2001.
Cutbacks in product portfolio
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