And Now, for Some More Pharma Layoffs - Amgen (AMGN), Endo Pharmaceuticals (ENDP)...
1/29/2013 7:12:14 AM
The rash of job cuts continues among drugmakers and biotechs as they struggle to develop new medications and grapple with assorted setbacks in the laboratory and elsewhere. The latest to eliminate jobs is Amgen and Endo Health Solutions, which are shedding a combined 215 positions, according to government filings. Specifically, Amgen (AMGN) is laying off 157 employees from its headquarters in Thousand Oaks, California, by the end of April. The move follows an effort begun in late 2011 to reorganize research and development operations that led to layoffs in various locations. An Amgen spokeswoman writes us that roughly half are assorted corporate and support positions and the rest are sales reps. Meanwhile, Endo next month is closing an R&D facility located in Westbury, Long Island, New York, and eliminating all 58 jobs. The reasons cited for the closing are economic, according to the government filing. We contacted an Endo (ENDP) spokesperson for comment and will update you accordingly if a reply is received. The drugmaker is arguably best known for its Opana painkiller. The cutbacks come shortly after Challenger Gray & Christmas, the outplacement consulting firm, released its annual tally of jobs cuts by industry sector and found that the pharmaceutical industry let go far fewer people in 2012 than the year before, at least in the US. The number of layoffs was 14,150 last year, compared with 21,580 in 2011.