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Schering-Plough to close plant.

Schering-Plough Corp. is cutting 1,100 jobs, closing one plant in Puerto Rico and streamlining operations at other plants there and in New Jersey, reports Bloomberg (June 2, 2006). The plant at Manati, Puerto Rico, will close by the end of 2006, the company said. Schering-Plough, developer of the Claritin and Clarinex allergy drugs, has been working on a turnaround program since Claritin lost patent protection in 2002, leading to three years of losses. About 550 full-time positions will be eliminated at the Manati plant, which makes Nasonex, an allergy spray, and Afrin, an over-the-counter decongestant. A further 50 jobs will be cut at a plant in Las Piedras, Puerto Rico, which will continue to operate, employing 475 people. That plant makes Zetia, for cholesterol control; Clarinex, an allergy medication; and Rebetol, for hepatitis B.
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Title Annotation:PUERTO RICO
Publication:Caribbean Update
Geographic Code:1U0PR
Date:Jul 1, 2006
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