BIOTECH firm Genzyme is creating ten jobs after securing a major deal with pharmaceuticals giant Bayer.
The company, of Oxford Business Park, will add to its 100-strong workforce after taking over the development and commercialisation rights to drugs for multiple sclerosis and leukemia.
Genzyme spokesman Steve Bates said: “It is a strategic partnership that puts us in control of the development of new drugs, while Bayer receives a share of the profits if they are successful.”
Genzyme hopes to generate revenue of up to £487m over the next three years as a result of the deal. The company will also invest up to £70m in a new United States manufacturing base in Seattle.
Meanwhile, drug discovery firm Evotec, based at Milton Park, near Didcot, revealed it is to cut up to nine jobs from its 200-strong Oxfordshire workforce as it slashes its operating costs. Chief operating officer Mario Polwyka said: “It’s unfortunate, but we have to adjust to the times.”
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