Arpida re-aligns activities to support transition of its research portfolio
Arpida Ltd. announced the cessation of its research activities in Denmark. Arpida A/S, the Danish subsidiary of Arpida Ltd., has primarily focused on hit-to-lead chemistry to support exploratory research. The cessation of these activities in Arpida A/S will lead to an overall reduction of the headcount in Research by up to 18, representing up to 25% of the company's Research unit.
Arpida's research operations, including rational drug design and chemistry, will continue at its corporate headquarters in Reinach, Switzerland. This strategic re-alignment shall bring about the appropriate concentration, integration and re-focusing of resources required for an efficient transition of the most advanced research compounds into development.
In financial terms, the refocusing operation will lead to a non-cash impairment of tangible and intangible assets of approximately CHF 1.2 million and CHF 6.1 million, respectively. These charges will be included in the 2006 accounts. The operation is expected to be completed in the second quarter of 2007.
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