News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

How Much Will Those Allergan Inc. (AGN) Cost Cuts Really Help?


7/22/2014 6:27:10 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

For weeks, Wall Street has been expecting Allergan to cut costs as one way to fend off the unwanted $53 billion takeover bid from Valeant Pharmaceuticals and activist investor William Ackman.

And today, Allergan took that step. The drug maker, which is famous for selling Botox, is slashing 13% of its workforce, or roughly 1,500 jobs, and will also leave 250 unfilled jobs vacant in a bid to save $475 million. The cuts do not include R&D programs and nearly all – 94%, specifically – of employees who deal directly with customers, such as doctors and hospitals, will remain in place.

Help employers find you! Check out all the jobs and post your resume.



comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES