Biotech Values

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Pharmalot: Where The Jobs Aren’t: The Latest Layoff Tally
April 4th, 2008 5:22 pm By Ed Silverman

C is for contraction. C is also for convulsion. Both describe what pharma is experiencing these days. And the number of jobs being cut makes it all too clear. The trend - whether one calls it layoffs, restructuring, downsizing or reorganization - was under way a few years ago, of course, when Merck began eliminating thousands of jobs. But since early last year, the bloodletting has been particularly severe, which is only reinforced by the latest cuts by Wyeth and Schering-Plough. The list, by the way, includes both cuts recently made and those forthcoming.

Of course, C is also for collateral damage. This list doesn’t count all the layoffs in the supporting industries and vendors: advertising agencies, marketing companies, med-ed agencies, printing companies, mail houses, and venues for education and promotional meetings. As one reader reminded us last year - imagine the layoffs at companies that provided all the pens, coffee cups, clocks, notepads, baseball caps, tote bags, and backpacks that are given to docs. To quote that loyal reader: “This is not your father’s pharma industry, and never will be again.”

Have we forgotten anyone? Please tell us, because we will update:

1. Pfizer - 10,000 jobs
2. AstraZeneca - 7,600 jobs
3. Bayer - 6,100 jobs
4. Schering-Plough - 5,500 jobs
5. Wyeth - 5,000 jobs
6. Johnson & Johnson - 5,000 jobs
7. Bristol-Myers Squibb - 4,300 jobs
8. Novartis - 3,750 jobs
9. Amgen - 2,600 jobs
10. Glaxo - 1,650 jobs*
11. King - 520 jobs
12. Sanofi-Aventis 380 jobs
13. Sepracor - 300 jobs
14. Ligand Pharmaceuticals - 267 jobs
15. PDL BioPharma - 250 jobs
16. West Pharmaceutical - 250 jobs
17. Abbott - 200 jobs**
18. Bradley Pharmaceuticals - 196 jobs***
19. Alkermes - 150 jobs
20. Encysive Pharmaceuticals - 150 jobs
21. Neurocrine Biosciences - 130 jobs
22. Nektar Therapeutics - 110 jobs
23. Reliant Pharmaceuticals - 109 jobs****

* Incomplete total, reflects US and Puerto Rico only

** Research only; doesn’t include sales reps following Kos acquisition

*** taken over by Nycomed

**** bought by Glaxo