Astellas begins major restructure, as 600 jobs slashed

Astellas, under the direction of new CEO, Kenji Yasukawa, has unveiled a major new restructure, ahead of a difficult looking year financially in 2019.

The new CEO, in place since 1 April, was given the task of turning around the business, after it reported slowing sales in 2017 and anticipates a major drop in profit during 2019.

If the first major announcement of the restructure are anything to go by, he may well be ruthless in his efforts to create a leaner business.

It was revealed that the company would entirely discontinue activates at Astellas Research Technologies, Astellas Marketing and Sales Support, and at Astellas Learning Institute.

In addition, the company is going to sell Astellas Analytical Science Laboratories to Eurofins Pharma, a contract research organisation.

The ceasing of activities at all four operations will likely see 600 staff members leave the company, as the company plans to offer an early retirement incentive plan.

The entire restructure Is planned to complete by the end of the 2018 fiscal year, which should see the changes complete by March 2019.

It unveiled a strategic plan for the financial year only a few days prior to the announcement, where it focused on maximising revenue from its existing lead products, in Xtandi, a treatment for prostate cancer, and Myrbetriq, a treatment for overactive bladder.

The company also talked up its pipeline for regulatory filings moving towards 2021, where gilteritinib figures prominently – the treatment for acute myeloid leukaemia has received orphan designation in the EU and the company has filed an NDA to the FDA.

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