NORWICH – Norwich Pharmaceuticals is announcing organizational changes that will eliminate approximately one quarter of its workforce.
According to a statement released by Norwich Pharmaceuticals, changes are due to decreasing product demand and delayed production forecasts leading to an anticipated 25 percent workforce reduction.
The North Norwich-based manufacturer plans to direct its focus on products that are developed and acquired by its parent company, which it says will allow continuation of services to third-party partnerships.
The company says it will “continue to employ nearly 300 local residents and will remain a cornerstone business in the local community.”
“Even though we have experienced a loss of manufacturing volume, our parent company is a fast growing and internationally successful business. We fully expect to increase the demands on our facility over the next five years,” said Charlie Andrews, Vice President of Operations. “The leadership team at Norwich is dedicated to growing the business and being successful in the generics pharmaceutical industry.”
Andrews continued, “We would like to thank all of our employees for their hard work and dedication to producing the highest quality pharmaceutical products. Norwich is doing everything possible to aid a smooth transition of those employees impacted including providing a separation package coupled with outplacement and job search support.”