The AbbVie (ABBV) Culture Change Continues: 100 Scientists Will be Laid Off
5/30/2013 8:12:14 AM
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Less than a month after AbbVie quietly disclosed that its chief scientific officer is unexpectedly retiring (see this), the drugmaker is now shaking up R&D and layoff approximately 100 scientists from its pain discovery program in neuroscience, according to sources. And an AbbVie spokesman confirmed the move. The R&D changes, which the spokesman says will also involve adding some 90 jobs in such therapeutic categories as dermatology, gastroenterology and renal, is part of a larger transformation that AbbVie is undergoing after being split off earlier this from Abbott Laboratories (ABT). Faced with patent expirations on big-selling cholesterol medicines, the drugmaker is laying off hundreds of sales reps (back story). The TriCor pill, which generated nearly $1.4 billion in sales last year, recently lost patent protection and Niaspan, which notched $976 million in 2012 sales, faces generic rivals in a few months.
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