ALTANA TO REORGANIZE, CUT 400 JOBS

Delayed drug approvals have caused Altana Pharma to dismantle its marketing and sales organization in Florham Park, N.J. by the end of the year, the company announced Oct. 3.

The move is part of a larger reorganization that will eliminate 400 jobs, mostly at the Florham headquarters, over the next three quarters. The company's market strategies in the U.S. "have been impacted by delays in the U.S. approvals of our respiratory products, Alvesco and Daxas," said Hans-Joachim Lohrisch, CEO of Altana Pharma.

Altana is also closing its research institute in Massachusetts in the first half of 2007, transferring certain projects to its research center in Germany. The company's clinical development and regulatory functions will remain in New Jersey.

Altana stated that the restructuring is unrelated Nycomed's recent acquisition of the company for $5.7 billion. The deal is expected to close at the end of the year, after which Altana's R&D operations will be based in Germany.

Altana Pharma, the pharmaceutical division of Germany-based Altana AG, focuses on prescription drugs for gastrointestinal and respiratory disease.