Pandemic-era pharma giant posts €1.35B loss, cuts 1,800 jobs in oncology pivot

A company that earned billions during the pandemic has reported a €1.35 billion six-month loss and announced 1,800 layoffs as it shifts focus to oncology. The move marks a sharp reversal from its pandemic-era profitability, signaling structural pressure on its legacy COVID product lines. The strategic pivot suggests management expects sustained decline in pandemic-related revenue.