Pharmacia & Upjohn to Cut Jobs, Relocate Headquarters to U.S.
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Pharmacia & Upjohn Inc. said Monday that it is moving its headquarters from London to the East Coast and shifting or cutting 600 jobs at its Kalamazoo, Mich., facility.
Relocating the home office of the pharmaceutical giant will help it respond more quickly to market changes and keep it “tightly linked to the marketplace,” said Fred Hassan, who became chief executive in May.
The drug maker, whose products include Rogaine hair restorer and Nicotrol nicotine patches, said its new headquarters will be in the mid-Atlantic region, where many of the company’s competitors are based. Officials declined to name a specific location.
The region was chosen because it marks the “global center” of the industry, company spokesman Rick Chambers said.
The company plans to phase out its current management center outside London and the North American drug sales and marketing headquarters in Kalamazoo.
Pharmacia & Upjohn shares rose 6 cents to close at $35.13 on the New York Stock Exchange.
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