Mundipharma in severe difficulty

The German-based company Mundipharma is showing increasing difficulty. The company’s management has recently announced it plans to close down its historical Limburg headquarters and to cut its staff in Germany from 700 to approximately 200. Frankfurt Allgemeiner Zeitung last weekend reported that the investor Fidelio Healthcare plans to take control of the Limburg site (price not disclosed yet), which would secure jobs to at least 100 employees. The group, which generated revenues of €274m last year, has also announced it will relocate 174 marketing and sales employees from Limburg to Frankfurt. Finally, the management has informed it plans to move what remains of its production division from Germany to another European country with lower manufacturing prices.
(Sources: FAZ, Süddeutsche Zeitung)