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Several months ago, I posted an article that suggested that layoffs in the pharmaceutical industry were beginning to slow. Apparently executives at Bristol Myers Squibb (BMS) didn’t read my blog post (I believe that they have in the past) and today announced that the company will eliminate 840 jobs or 3 per cent of its 28,000 member workforce.

The company says the jobs will be eliminated over the next six months, and the cuts could be spread across all its businesses and geographic locations. A BMS spokesperson indicated that company executives are still reviewing the entire organization to determine which jobs will be eliminated. The new round of layoffs is intended to further streamline the company. Interestingly, BMS purchased Seattle-based Zymogenetics for $885 million two weeks ago.

These cuts coupled with small biotechnology company acquisitions and a recent stock buyback initiative suggests that the company may be positioning itself for sale or merger. BMS’ top selling drug Plavix which represents almost 40 percent of the company’s revenue stream will lose patent protection in 2011.

Until next time...

Good Luck and Good Job Hunting!!!!!!!!

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Japanese drug maker Takeda Pharmaceuticals announced today that it will slash almost 1,600 jobs or 28 per cent of its 5000 person US workforce. Most of the cuts will take place at the company’s North American headquarters (1400) in Deerfield, Illinois; the remainder (ca. 170) will occur at Takeda Global Research and Development Center in Lake Forest. These cuts represent a 20 per cent reduction in R&D employees at the site.

The layoffs, which are part of a restructuring of Takeda’s North American operations, are directly related to declining sales and the coming generic competition to its top-selling diabetes drug Actos. In addition to being Takeda's biggest revenue producer, Actos is the nation's top-selling brand name diabetes drug and was the 8th-best selling brand in 2009, generating $3.4 billion in U.S. sales, according to the most recent information available from market.

Despite rumors of job creation in other sectors of the US economy, pharmaceutical companies continue to shed jobs.

Until next time…

Good Luck and Good Job Hunting!!!!!!!!!!

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According to a report yesterday, Roche is reducing headcount at San Francisco-based Genentech by merging the information technology departments of its pharmaceutical and diagnostics divisions. The company didn’t disclose how many people would be losing jobs as a result of the consolidation.

The company previously merged all of its human resources functions and roughly 20% of HR personnel lost their jobs—although most were able to find new jobs within Roche.

A Roche spokeswoman added that the company will continue unifying its communication processes in an attempt to further reduce the size of its workforce.

Expect more announcements from Roche in the coming months.

Until next time...

Good Luck and Good Job Hunting!!!!!!!!

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In a  previous post,  I suggested that more layoffs would occur at Bristol-Myers Squib (BMS) by December, 1, 2008. The Pharmalot Blog reported today that 800 more BMS employees ( including scientists) would lose their jobs before the end of 2008. Okay, so I was off by about two weeks.

A company spokesperson told the Pharmalot folks that “We are reducing the global Bristol-Myers Squibb workforce as part of our previously announced second wave of productivity initiatives designed to enhance our ability to address the significant challenges and uncertainties our company faces in the short- and long-term. Headcount reductions associated with the second wave of productivity initiatives will continue through 2010, with a goal of a 10 percent reduction in our global workforce. This [layoff of 800] is in addition to the 10 percent workforce reduction previously announced in December 2007.” 

Things are obviously not going well at BMS these days. Look for more layoffs in early 2009 and beyond. Who do you think is going to buy BMS?

Until next time…

Good Luck and Good Job Hunting (Try Lilly I hear ImClone is looking for a few good men and women)

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