2007 has been a rough year for a number of the pharmaceutical and biotech industry’s biggest players. Concerns about patent expirations, falling sales due to drug safety concerns, redundancy from acquisitions and a general need streamline operations contributed to these companies’ decisions to cut employees. Check out this list of the top five pharma and biotech layoffs of 2007 for more on the cuts.
1. Pfizer - 10,000 jobs
2. AstraZeneca - 7,600 jobs
3. Bayer - 6,100 jobs
4. Johnson & Johnson - 5,000 jobs
5. Amgen - 2,600 jobs
Source
And that's without GSK. GlaxoSmithKline announced a £1.5 billion cost-cutting drive yesterday that includes plans to cut at least 5,000 jobs, close plants and outsource the manufacture of drugs that have gone off-patent.
About 40 per cent of the cuts will come from Glaxo’s manufacturing operation and a similar proportion from marketing through the adoption of “new sales structures and selling techniques”.
A further 20 per cent will come from research, although no scientists are likely to be affected.
And let's not forget Novartis!
Derek at In the pipeline has comments on this issue.
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