The New Haven, Conn.-based drugmaker will also relocate its headquarters to Boston, maintaining its New Haven plant as a research center of excellence.
It expects to deliver about $270 million in pre-tax, adjusted savings each year by 2019, which will allow it to prioritize growth opportunities, particularly in regards to its rare disease business.
The drugmaker was recently investigated on allegations related to sales practices for one of its drugs, Soliris, after which members of its senior management team resigned, reports CNBC.
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