Tuesday, September 16, 2008

Mass. Losing the Life Sciences Golden Goose

I thought these guys were the saviors of the economy?

They SHUTTING DOWN places?

"Millipore closing at least two plants in streamlining

Millipore Corp., a Billerica life sciences company, said it plans to close a plant in Lincoln Park, N.J., and one in Sweden and has proposed shuttering two sites in the United Kingdom in a plan to streamline operations. A spokeswoman said the company plans to eliminate or relocate up to 140 positions, but none of them are in Massachusetts. Millipore cited declining revenue in its bioprocess division, which provides services and supplies to companies involved in drug manufacturing. Millipore expects to record charges of $25 million to $30 million, including $8 million to $10 million for employee separation costs and $3 million to end leases. After the cuts, Millipore expects to save $11 million to $15 million a year (Boston Globe September 16, 2008)."

Type "biotech" in my blog search and see what comes up.