Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The French biotech company Transgene has announced it will close its clinical-scale biomanufacturing facility near Strasbourg with the loss of 120 jobs. The aim is to outsource production to third parties in the framework of a new strategy to move away from a vertical integration model to focus the resources on advancing Transgenes’ clinical development profile and R&D. The management took this decision after that the pharmaceutical group Novartis decided to stop its cooperation with Transgene in the immunotherapy field. The closure will lead to 120 job cuts of a total workforce employed at this site of 285 employees. However, the US subsidiary of Institut Mérieux, ABL, is expecting to take over the production in the site and may offer positions to 40 of the affected employees involved in manufacturing and related activities.
Eurofound (2015), Transgene, Outsourcing in France, factsheet number 83874, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83874.