Pharmaceutical company will shed thousands of jobs

Mon, 02 Feb 2009
The second largest UK drugmaker, who have some involvement with diabetes, will cut a further 6,000 jobs over the next four year period. The news comes in addition to the 7,600 redundancies already announced by AstraZeneca . By 2013, over 13,000 jobs will have gone at the company.

Despite healthy pre-tax profits, chief executive David Brennan was reported as commenting: "The exact outcome is dependent, in part, on the extent of the impact of global economic conditions experienced over the course of the year."

Although AstraZeneca do have involvement in the diabetes industry, their blockbuster drugs are Nexium, and ulcer treatment and Crestor, a cholesterol drug. AstraZeneca face 9,000 lawsuits alleging that depression drug Seroquel can cause diabetes and other health problems.

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