A pharmaceutical plant in Milton Keynes is due to close with the loss of 165 jobs.
Consort Medical PLC, formerly known as Bespak, announced today it will be closing its site in Wolverton.
The company had taken on 70 extra staff last year to produce a revolutionary Exhubera inhaler, similar to an asthma inhaler, as an alternative to injections for diabetes.
However, the product was cancelled by Pfizer because the applicators were not user friendly.
Consort chief executive Mark Throdahl said: "While we regret the impact of this restructuring on our workforce in Milton Keynes, we believe the action we are taking underpins our long-term expectations for the business."
The Citizen reported in July the company was expecting to lose a 'significant' number of jobs.
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