Astellas Pharma Technologies Inc., a subsidiary of Astellas Pharma Inc., on Wednesday announced the implementation of a voluntary early retirement program for eligible employees and a voluntary termination plan to aid in the restructuring of the Norman plant.
The company, with 197 Norman employees, hopes 60 workers will take advantage of the offer in order to avoid layoffs at the plant on SH 9 on Norman's south side.
The restructuring comes in response to the impending patent expiration of Flomax (tamsulosin hydrochloride), a prescription drug used to treat benign prostatic hyperplasia. All employees electing either early retirement or voluntary resignation will receive a severance package containing monetary and other benefits.
The enhanced incentives will be available to eligible APT employees and are designed to assist employees in making a smooth transition into retirement or another position.
"APT has long been committed to its employees and continues this tradition by giving our employees and their families the tools they need to move forward. The early retirement and voluntary severance programs are designed to provide our employees a degree of certainty and control over their future as we restructure the Norman facility," said Masatoshi Miyake, president and chief operating officer of APT. "We remain optimistic that new products will be brought to APT once they are approved by the applicable regulatory agencies."
Astellas hopes about 60 manufacturing site employees will take advantage of the early retirement program or severance benefits. The remaining employees will continue to support the manufacturing of Flomax and VESIcare for the North American markets and other products for the Japanese market.
Astellas has about 13,700 employees worldwide.
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Astellas offers early-out for Norman workers
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