Ben Venue Labs Shutting Down
Ohio drug company closing, 1,100 jobs to be lost
BEDFORD, Ohio (AP) — More than 1,000 jobs will be lost when a drug manufacturer in northeast Ohio stops production this year.
Ben Venue Laboratories Inc. in Bedford said in a release Thursday that the company will stop production by the end of 2013. It says all 1,100 jobs will be phased out starting this month and continuing into 2014.
The company voluntarily shut down two years ago due to quality problems at the Ohio factory. Ben Venue said last October that it had resumed limited drug manufacturing and was upgrading its facilities.
Ben Venue said Thursday that the investment needed to sustain production wasn't viable. The company projected operating losses of about $700 million over the next five years.
Ben Venue is part of the Germany-based Boehringer Ingelheim family of companies.
Posted: October 2013