Genencor scales back health care activities
As previously announced, Danisco has been working to spin off Genencor's health care activities. It has now been decided to divest the product portfolio rather than spin it off into a company with Danisco as a co-shareholder.
The decision results in an immediate reduction in force in Genencor affecting 22 positions and leaving 31 positions in the health care business. To ensure and support a divestment, focus will mainly be on the sections of the project portfolio that carry sales potential. This process is expected to be finalised in the months ahead.
During the transition period, Genencor will continue development activities for GCR-8015 (preclinical) and GCR-3888 (clinical), two compounds for hematologic malignancies.
The net restructuring costs involved were included in the previously announced special items for Genencor in 2005/06 totalling approximately DKK 300 million.
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