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ASTRAZENECA

AstraZeneca profits up as more job cuts announced

Anglo-Swedish drugmaker AstraZeneca on Thursday reported 2008 annual net profits were up 9 percent to $6.10 billion, but that the company plans to shed 7,000 more jobs by 2013.

The cuts will extend a cost-cutting programme that has already shed about 8,000 positions since 2007.

“New initiatives include further rationalization of the global supply chain, additional restructuring of the sales and marketing organization and business infrastructure,” AstraZeneca said in an annual earnings release.

“When fully implemented, these and other new business reshaping activities, combined with revised estimates for the original 2007 programme … will result in the overall programme delivering a reduction of approximately 15,000 positions by 2013.”

The programme will reap cost savings of $2.5 billion per year following its full implementation, compared with the previous annual forecast of $1.4 billion.

AstraZeneca said that it expected to be saving $2.1 billion before the end of 2010, with the rest of the savings achieved by 2013.

“All reductions in positions are subject to consultations with works councils, trade unions and other employee representatives and in accordance with local labour laws,” it added.

The group announced that its 2008 annual net profits rose 9 percent to $6.1 billion on strength in emerging markets.

Revenue gained 6.9 percent to $31.6 billion last year.

“AstraZeneca has delivered a robust performance in an increasingly challenging market environment,” chief executive David Brennan said in the statement.

“I am particularly pleased with our continued success in globalizing our business, as shown by our strong performance in emerging markets.

“We are also making good headway in further improving the efficiency of our organization. The expansion in the scope of our restructuring efforts is another important step towards sustaining our long-term competitiveness.”

VACCINE

Danish engineers first to be jabbed under voluntary vaccine scheme

Twenty employees of the Danish engineering firm Lowenco, together with their boss Mikael Hoier, on Sunday became the first people to be given the Johnson & Johnson vaccine under Denmark’s new optional vaccination scheme.

Danish engineers first to be jabbed under voluntary vaccine scheme
Practio co-founder Jonas Nilsen said that the employees had all been given detailed adviuce before they were given the jab. Photo: Practio

The group wanted to get vaccinated so that they can travel to India to install 20 freezers at a vaccine factory.

“It went pretty well, pretty calm and then a little prick,” Hoier, director of Lowenco, told state broadcaster DR.

After undergoing a medical consultation on Saturday, the group were given the green light to get vaccinated on Sunday.

“They all had many questions about potential side effects and the pros and cons of receiving the vaccine,” said Jonas Nilsen, a doctor and co-founder of Practio, which has been given the task of vaccinating Danes under the new optional scheme.

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After thinking over the decision overnight, two of the company’s employees opted against receiving the vaccine. 

“That is absolutely OK by me. It’s a personal decision and it won’t go against them,” Hoier said. 

Practio doctors advised the company to delay their departure to India to the end of this week, so the vaccine has more time to take effect, and they do not suffer complications during their trip.

“There is a chance that someone will be affected by side effects such as headaches, fever and soreness shortly after being injected,” he said.

Sunday’s vaccinations were carried out at Sønderbro Apotek in Copenhagen, and from Monday, vaccinations will be given at Practio’s own vaccine site in Copenhagen, where up to 5,000 people can be vaccinated a day.

The company plans to soon open vaccination centres in Roskilde, Odense, Aarhus and Aalborg. 

On Sunday, Nilsen told Norwegian broadcaster NRK that more than 20,000 people in Denmark had already put themselves down on the list for an optional vaccination, and said that his company is capable of treating about 70,000 vaccination patients a day. 

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