At Least 200 Former Medicis Employees Laid Off After Aquisition
Published: Dec 18, 2012
About 200 former Medicis Pharmaceutical Corp. corporate employees have been laid off following an acquisition by Canadian pharmaceutical company Valeant Pharmaceuticals International that was completed last week, a spokeswoman confirmed Monday. Among the Medics employees impacted are finance, legal, investor relations and other corporate positions at the company’s Scottsdale headquarters, Valeant spokeswoman Laurie W. Little said. Little said she could not confirm an exact number of Medicis positions that have been eliminated, but she estimated that the layoffs affected “a couple hundred (employees) probably.” “Everyone was notified last week,” Little said. Montreal-based Valeant completed a $2.6 billion acquisition of Medicis Tuesday. As part of the merger completion, the company said it expected to save $225 million by eliminating duplicate corporate functions and positions.