Formerly profitable corp is slowly going down (GR)

One of my corps that used to be profitable, is now in trouble because the market price of the product that it was making (Pharmaceutical) is continuously dropping.
- Should I close that corp down and open another one in its stead?
- Should I switch it to another product? What happens if I switch? Will it keep its efficiency, or will it have to start from scratch?
- Is there a way to mothball the corp without tearing it down? If I set it to 0% hiring, for example, what kind of overhead costs would I still have to pay for its continued existence?

If it is fully upgraded and has been making a profit, I would keep it. The price will rebound most likely. If you close it and build new, you will not keep the upgrades.

I don't know the answer on the last one.

By "switch to another product" I didn't mean to close that one and build a new one, but to change the output product of that one corp. Corps can change their product, as long as it's in the same family of products. Does efficiency get lost when you do that?

Yes, the price could rebound, but by the time it does that, I may have incurred more expenses than it would have cost me to build a new corp. I mean, the price has been steadily declining over the past 2.5 years, and the global supply bar is maxxed out green.

If you change the output product the corp will keep all of its upgrades. The lowest you could lower production and hiring is to 10% each. Or you could stop production by stopping the purchase of supplies. Either way, the corp would still have some small costs.

The safest corps to start are the industries that have multi-year shortages of billions of units. Pharmaceutical products is a mediocre industry and probably not worth the trouble. Maybe you could persuade a CEO to bail you out by buying that pharmaceutical corp and moving it out of the country.