Spanish company news in brief

- AstraZeneca's Spanish subsidiary has started a restructuring which will involve the loss of 130 jobs. The cuts will apply across the board as part of the group's strategic aim of cutting 3000 jobs across the company within three years. Philippa Rodriguez, president of AstraZeneca Espana, said the company was confident over the development of new drugs but, in the medium term, had to focus on consolidating its existing offer.

- Spanish pharmaceutical stocks have tended to come back into favor against a background of global economic problems. Investment analyst Susana Felpeto of Atlas Capital said there was considerable volatility and the movements tended to be sectoral. Drug stocks are a "defensive" sector linked to consumption and are seen as worthwhile in times of crisis. Among Spanish firms Rovi and Almirall appear to offer most interest because both companies have established products lines.