Endo Pharmaceuticals Laying Off Sales Teams
1 CommentBy Ed Silverman // September 8th, 2010 // 1:43 pm
Just one month after agreeing to buy Penwest Pharmaceuticals for $144 million, Endo Pharmaceuticals is in the process of laying off sales managers and sales reps, according to sources. The exact number of jobs to be eliminated is unclear at the moment, but we are told Endo is engaging InVentiv, a contract sales organization, to provide replacements and lower expenses. We await a reply from Endo.
This is not the only dismal jobs news in the pharmaceutical industry this week. As noted earlier, the recently announced $3.2 billion merger between Biovail and Valeant Pharmaceuticals will cause about 25 percent of the combined, 4,000-person workforce to be shown the door, according to this email sent by ceo Mike Pearson to employees yesterday. And Scrip News reported today that Shionogi is cutting its US sales force by about half, leaving roughly 350 people.
Will
Just what Jon said..