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January 1, 2008
1 Min Read
Contract manufacturer The Tech Group (Scottsdale, AZ) has started its restructuring, outlined in an initial announcement made Dec. 12 by West Pharmaceutical Services Inc. (Lionville, PA). This month, IMM's sister publication Modern Plastics Worldwide reported that West Pharmaceutical, which purchased The Tech Group in May 2005, is now consolidating its facilities and making a 13% reduction in staff, which results in a loss of 250 employees. The Tech Group's moldmaking plant in Erie, PA will be closed, with work shifting to the Scottsdale location.
This restructuring reflects Pfizer's announcement on Oct. 18, 2007 to end production of the Exubera Powder Insulin Inhalation product and return licensing rights to its partner Nektar Therapeutics. The product was no longer available to patients after Jan. 16. According to a press release from Pfizer dated Nov. 13, 2007, Nektar will receive a one-time payment of $135 million from Pfizer to satisfy all remaining obligations under existing agreements relating to Exubera and Nektar's Next Generation Inhaled Insulin product, currently in Phase 1 clinical development.
The Tech Group is continuing operations in Guadalajara, Mexico, and Grand Rapids, MI facilities, and a press release from West Pharmaceutical noted that, “The Tech Group continues to have a very strong market presence and the restructuring aligns the plant capacity and workforce with the current business outlook and longer-term strategy of focusing the business on proprietary products.”
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