Regeneron restructures, cuts at least 15 jobs

Regeneron is restructuring its collaboration with Sanofi on two drugs, Kevzara and Praluent, and cutting an undisclosed number of jobs, according to Endpoints News

Under the new agreement, Sanofi is getting the sole global rights to Kevraza, a rheumatoid arthritis treatment, as well as ex-U.S. rights to Praluent, a drug designed to prevent cardiovascular diseases.

Regeneron filed a notice with the state of New York Dec. 20 saying that it was cutting 15 jobs due to the "termination of all field and supporting staff associated with one of their products."

A Regeneron spokesperson told Endpoints News that the move to cut jobs was related to plans to downsize the marketing teams for both Kevraza and Praluent. 

"We will be reducing the size of our commercial and medical affairs teams related to the Kevzara and Praluent restructuring. We are currently talking to impacted teams and individuals and they will be given the opportunity to apply for other open roles where possible," the spokesperson told Endpoints News. 

People familiar with the matter told Endpoints News the Praluent team lost 83 jobs. A 60-member sales team was reportedly cut to 16, and all 10 managers as well as 10 field reimbursement specialist jobs were cut. 

It is unclear how many total jobs have been or will be cut due to the restructuring. 

Regeneron has, however, been adding staff overall as it expands its commercial work as well as its research and development efforts, according to Endpoints News

Read the full article here

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