As reported by the BBC News, the pharmaceutical company Vectura, has announced plans to close its site in Nottingham in a bid to cut costs. The plan could put many pharmaceutical jobs at risk.
Vectura has stated that the closure of their Ruddington Laboratories, which employ approximately 100 people could lead to a cost saving of £6 million in the next financial year.
Dr Chris Blackwell, Chief Executive of Vectura, said: “In a more cautious environment both in the sector and the economy, we believe it prudent to reduce the risk profile of Vectura while preserving the upside.
“We are accelerating our timelines to profitability and sustainable cash generation by refocusing and restructuring our R&D operations.
“This means reducing our cost base and focusing on nearer-term projects.
“The steps taken will help secure the best long-term future for Vectura.”
Vectura specialises in manufacturing inhaled medicines for the treatment of respiratory diseases. They have sites based in Witlshire and Cambridge.
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