The move, which translates into about 520 jobs, comes just one month after a court declared the patent on its biggest-selling med, the Altace blood pressure treatment, was declared invalid. That one drug generated sales of $163 million in the second quarter this year, or 35 percent of all revenue. The cost-cutting is expected to save between $75 million and $90 million. Here’s the statement.

The decision is a big reversal of fortune for King, which earlier this year drew considerable attention for spending more than $4 million on an unusual Super Bowl ad, which was designed to raise awareness of high blood pressure, but didn’t actually promote Altace in the series of spots that ran during and after the game. Instead, the risky TV ad directed viewers to the American Heart Association web site and the King logo itself only appeared briefly and discreetly.

Since then, the drugmaker has been struggling with the patent issue, even before the US Court of Appeals this summer ruled against King in favor of a challenge by India’s Lupin. King has filed a petition seeking a reconsideration, but meanwhile, investors have largely lost confidence. Starting in mid-July, the stock has dived nearly 50 percent from around $22 to close at $10.72.