Actavis (ACT) To Chop About 350 U.S. Sales Positions
11/21/2013 6:25:46 AM
Actavis is cutting jobs but others are hiring too! Check it out! (Isn't it tempting?)
Actavis Announces U.S. Specialty Brands Sales Organization Restructuring
DUBLIN, Nov. 20, 2013 /PRNewswire/ -- Actavis plc (NYSE: ACT) today announced that it has completed the restructuring of the U.S. Specialty Brands sales organization, following the completion of the acquisition of Warner Chilcott on October 1, 2013.
In total, Actavis Specialty Brands will have a sales organization comprised of approximately 750 U.S. sales professionals, including sales representatives, district managers, national account managers and associated management, compared to a combined total of approximately 1,100 legacy Actavis and legacy Warner Chilcott sales professionals present at the close of the acquisition. The restructured sales organization will have equal or better coverage than the legacy Warner Chilcott sales organization in all therapeutic areas, including Women's Health, Urology, Gastroenterology and Dermatology, and includes a select number of institutional representatives to support promotion to clinics.
"Beginning at close, we initiated an extensive assessment and review process to determine the appropriate structure for our U.S. Specialty Brands sales organization, recognizing that the two companies had significant overlap in key areas," said Fred Wilkinson President, Actavis Specialty Brands. "I am confident that this organization will be an industry leader in providing support to healthcare professionals within the Women's Health, Urology, Dermatology and GI therapeutic categories."
"We are committed to supporting those professionals who were not selected as a result of this review process with appropriate severance benefits and support including outplacement services. We anticipate a smooth transition to this new sales organization and to seamlessly supporting our physician base."
The Company expects to outline the complete structure of the new Specialty Brands commercial organization at its investor day in January.
Actavis plc (NYSE: ACT) is a global, integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products. Actavis has global headquarters in Dublin, Ireland and U.S. administrative headquarters in Parsippany, New Jersey, USA.
Actavis markets generic, branded generic, legacy brands and Over-the-Counter (OTC) products in more than 60 countries, and operates a global branded specialty pharmaceutical business focused in the Women's Health, Urology, Gastroenterology and Dermatology therapeutic categories. Actavis also has a portfolio of five biosimilar products in development in Women's Health and Oncology. Actavis Global Operations has more than 30 manufacturing and distribution facilities around the world, and includes Anda, Inc., a U.S. pharmaceutical product distributor.
For press release and other company information, visit Actavis' Web site at http://www.actavis.com.
Statements contained in this press release that refer to Actavis' estimated or anticipated future results or other non-historical facts are forward-looking statements that reflect Actavis' current perspective of existing trends and information as of the date of this release. For instance, any statements in this press release concerning prospects related to Actavis' strategic initiatives, product introductions and anticipated financial performance are forward-looking statements. It is important to note that Actavis' goals and expectations are not predictions of actual performance. Actavis' performance, at times, will differ from its goals and expectations. Actual results may differ materially from Actavis' current expectations depending upon a number of factors affecting Actavis' business. These factors include, among others, the inherent uncertainty associated with financial projections; successful integration of the Warner Chilcott acquisition and the ability to recognize the anticipated synergies and benefits of the Warner Chilcott acquisition; the difficulty of predicting the timing and outcome of pending or future litigation and government investigations and risks that an adverse outcome in such litigation or investigations could render Actavis liable for substantial damages or penalties; risks that resolution of patent infringement litigation through settlement could result in investigations or actions by private parties or government authorities or agencies; the impact of competitive products and pricing; risks related to fluctuations in foreign currency exchange rates; periodic dependence on a small number of products for a material source of net revenue or income; variability of trade buying patterns; changes in generally accepted accounting principles; risks that the carrying values of assets may be negatively impacted by future events and circumstances; the timing and success of product launches; the difficulty of predicting the timing or outcome of product development efforts and regulatory agency approvals or actions, if any; risks and uncertainties normally incident to the pharmaceutical industry, including product liability claims and the availability of product liability insurance on reasonable terms; market acceptance of and continued demand for Actavis' products; difficulties or delays in manufacturing; the availability and pricing of third party sourced products and materials; successful compliance with governmental regulations applicable to Actavis' facilities, products and/or businesses; changes in the laws and regulations, including Medicare, Medicaid, and similar laws in foreign countries affecting, among other things, pricing and reimbursement of pharmaceutical products and the settlement of patent litigation; and such other risks and uncertainties detailed in Actavis, Inc.'s periodic public filings with the Securities and Exchange Commission, including but not limited to Actavis plc's Quarterly Report on Form 10-Q for the period ending September 30, 2013. Except as expressly required by law, Actavis disclaims any intent or obligation to update these forward-looking statements.
SOURCE Actavis plc
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