Posted on January 30, 2009 by BioJobBlogger

The Weekly Pharma Layoff Report

Talk about a rough week. First, on Monday, Pfizer announced that it was acquiring Wyeth, a move that is expected to result in the loss of 8,000 to 10,000 jobs if the deal is approved. This was followed on Wednesday by an announcement from Abbott Laboratories indicating hat it was laying off about 200 sales representatives because of regulatory delays for its12 hour-formulation of its pain drug Vicodin. Finally, on Thursday, AstraZeneca announced that it will cut another 7,400 jobs worldwide by 2013 (bringing the total number of expected layoffs to 15,000). Also on Thursday, Sepracor, the maker of the sleeping pill Lunesta, announced that it will cut 20% of its permanent work force (530 jobs) and 410 contract sales representatives (even though the company announced a profit).

Suffice it to say it has been a tough week for pharmaceutical company employees. I hope that next week is better.

Until next time…

Good Luck and errrrrr Good Job Hunting????????

 

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Posted on November 7, 2007 by BioJobBlogger

Sepracor to Cut 300 Sales Jobs

The Marlborough, Mass.-based drugmaker Sepracor announced last week that it would cut 300 sales job due to poor third quarter earnings.  Revenue for the quarter fell 1.9% to $283.95 million.

Sepracor manufactures and sells the well known sleep aid Lunesta which jumped 14% to $160.9 million from last year. However, sales of its respiratory product Xopenex HCL Inhalation Solution slid from $125.4 million to $94.4 million. The company announced the layoffs to reduce costs.

Looks like things are starting to slow down in the Boston area.

Until next time....

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

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