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Case Study

Successful transformation in the pharmaceutical industry

210181-01

Challenges and successes: an in-depth look at the restructuring program

A global pharmaceutical company successfully implemented a comprehensive restructuring program to combat the decline in sales and profits. An experienced transformation manager coordinated all measures.

q

Company

  • Global pharmaceutical company focusing on the development and commercialization of therapies for complex, rare and serious diseases
  • Revenues at approx. €3b
  • Earnings decreased from around 4% in previous year to –8%
p

Challenge

  • Macroeconomic trends have led to a significant decline in sales and earnings
  • The group’s holding company decided to run a comprehensive restructuring program
m

Goals

  • Coordinate staff reduction measures
  • Conduct negotiations with the works council and employee representatives (social plan and reconciliation of interests)
n

Measures

  • Identification of a seasoned Pharma program manager with extensive experiences in cost optimization and turnaround management
  • Establishment of a target structure and development of a negotiation strategy
  • Preparation of all necessary documents, including capacity analysis
  • Workshops with the works council
  • Negotiations with the works council, trade union, lawyer (employee representative) and management consultant (employee representative)
x

Results

  • Program successfully implemented
  • Substantial cost reductions achieved

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