MDS restructure

MDS technologies has announced a restructuring plan to drive improved profitability at its Pharma Services and Analytical Technologies.

The leading provider of products and services to the global life sciences markets’ restructuring actions are expected to yield pre-tax savings of approximately $20 million (£10 million) annually and result in a reduction of approximately 210 employees.

It adds the pre-tax costs of such the moves anticipated to be approximately $18 million with the majority of them recorded in the third-quarter of 2008.

A MDS statement said: "The Company also expects to record a pre-tax facility-related asset impairment charge of approximately $10 million related to its MDS Pharma Services Montreal site."

The firm announced in June it had adopted the SAS drug development tool to provide a central integrated system for clinical research.

MDS claims to be a leading global supplier of life sciences tools.

It is comprised of two main brands, Sciex for mass spectrometry and Molecular Devices for bioanalytical measurement systems.