12 drugmakers that slashed their workforces in 2018

Becker's Hospital Review has reported the following drug company layoffs in 2018. They are listed below, beginning with the most recent.

1. Purdue Pharma cuts remaining sales force
Purdue Pharma, the embattled OxyContin maker, laid off the remaining members of its sales force June 19, as it shifts its focus away from opioids and pursues cancer and central nervous disorder medications.

2. McKesson to close Connecticut facility, lay off 105 workers
McKesson, a medical supply and pharmaceutical distributor, will close its facility in Rocky Hill, Conn., resulting in job losses for 105 people

3. Flex Pharma to slash 60% of workforce, consider sale or merger
Flex Pharma, a biotechnology company based in Boston, will lay off 60 percent of its workforce by the end of June and is considering a sale or merger to remain afloat, after ending a midstage trial of its lead drug over tolerability concerns.

4. Novo Nordisk considers 3k layoffs amid turbulence in US insulin market
Novo Nordisk, a multinational pharmaceutical company based in Denmark, is thinking about slashing 3,000 jobs from its global workforce and reducing its long-term financial outlook.

5. Mylan eliminates more than 400 positions at West Virginia plant: 3 notes
Mylan Pharmaceuticals laid off more than 400 employees at its manufacturing plant in Morgantown, W. Va. April 20.  

6. Achillion Pharmaceuticals slashes workforce by 20% after losing $85M
Achillion Pharmaceuticals, a clinical stage drugmaker based in New Haven, Conn., will slash its workforce by 20 percent to help offset an $85.2 million loss in fiscal year 2017. 

7. Drugmaker Intarcia Therapeutics cuts 20% of workforce, terminates 2 late-stage trials: 8 things to know
Intarcia Therapeutics, a biopharmaceutical company based in Boston, recently laid off 60 employees and terminated two late-stage trials of its lead diabetes treatment.

8. Sanofi Genzyme to lay off 130 employees at Boston plant
Sanofi Genzyme will lay off 130 workers this week at its manufacturing plant in Boston in an effort to reduce costs and simplify operations.

9. Teva to close Puerto Rico plant, cut 200 jobs as part of restructuring plan
Teva Pharmaceuticals will close its manufacturing plant in Manati, Puerto Rico this month, which will eliminate approximately 200 jobs.

10. Pfizer to cut 300 jobs, end drug research for Parkinson's and Alzheimer's
Pfizer will end research into treatments for Alzheimer's and Parkinson's disease, resulting in the elimination of 300 positions at the company's Massachusetts facilities in Andover and Cambridge, and its Connecticut facility in Groton.

11. Allergan to cut more than 1K jobs: 3 things to know
Allergan will eliminate more than 1,000 positions in anticipation of generic competition surrounding its popular dry-eye drug Restasis.

12. Teva Pharmaceuticals to cut more than 25% of workforce, consolidate US sites
Teva Pharmaceutical Industries, which is grappling with $35 billion of debt, will cut 14,000 jobs worldwide and consolidate six of its seven U.S. sites into one location during fiscal year 2018.

More articles on supply chain: 
Pharmacist recommended: 30 top OTC health products of 2018
Novo Nordisk considers 3k layoffs amid turbulence in US insulin market
Bayer hikes price of 2 cancer drugs by $1k per month

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Featured Webinars

Featured Whitepapers