Big Pharma Job Cuts
There seems to be another round of lay-offs downsizing or whatever else they are calling it now in the pharmaceutical industry.
Johnson & Johnson Plans to Cut 4,800 Jobs - New York Times
J&J restructuring to cut up to 4,820 jobs
Alza to cut 600 jobs, exit Mountain View HQ: Financial News - Yahoo! Finance
J&J is concerned about their blockbusters expiring and declining use of drug stents. This is another reason in my opinion to get away from the blockbuster approach. This is about 4% of their total world-wide workforce.
Alza is part of J&J and will close the Mountain View CA site and laying off 600 workers there.
AstraZeneca to cut a further 4,600 jobs as costs keep rising - Independent Online Edition
AstraZeneca to slash 7,600 jobs as profits fall - Yahoo! News
AZ is cutting due to slow sales of Nexium now that it is off patent. Sales of this drug was over $5.7 billion in 2005. Again another example of the downside to the blockbuster mentality.
EATG :: Anadys to cut jobs, end hepatitis B drug development
Anadys is cutting jobs due to the discontinued development of ANA380 a drug for hepatitis B. It was in phase II and it seems they are cutting staff early considering they still have two other drug candidates. normally this happens with phase III failures and when companies only have one real drug candidate in their pipeline. Anadys is cutting 33% of their workforce!
This brings to a total of more than 12,500 jobs lost for just this last week.
Technorati Tags: Alza, Anadys, AstraZeneca, Johnson & Johnson, AN380
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