Actelion plans research cost cuts

Europe’s top biotech company Actelion said yesterday it would slash costs and cut back on research to focus on its pulmonary arterial hypertension business, in a bid to ensure growth when its key drug Tracleer goes off patent in 2015. Actelion said it would review its pipeline and stop or license out projects which did not fit its focus, but didn’t elaborate. The firm does not see earnings growth until 2014, when new medicines and cost cuts are expected to offset falling Tracleer revenues.