Sector News

Merck to lay off about 1,800 U.S. sales reps in cost-cutting

October 23, 2017
Life sciences

Merck & Co. said Friday it is laying off about 1,800 U.S. sales representatives, or nearly 7% of the drugmaker’s U.S. workforce, in a reorganization the company says will cut costs and shift focus to products with growth potential.

Merck is eliminating three sales teams comprising reps who promote drugs to primary-care doctors, endocrinologists and drugs used in hospitals.

At the same time, Merck said it would create a new “chronic care” sales team of 960 reps who will promote its top-selling drug, diabetes treatment Januvia, plus insomnia medication Belsomra and drugs for respiratory diseases and women’s health. Merck also hopes to begin selling two new diabetes drugs if regulators approve them.

Employees being laid off can apply for the new sales positions or other open jobs at Merck, said spokeswoman Claire Gillespie.

Merck said the changes are “part of ongoing companywide efforts to sharpen Merck’s focus on innovative R&D that addresses significant unmet medical needs and on our best opportunities for growth, while reducing overall costs.”

By Peter Loftus

Source: MarketWatch

comments closed

Related News

July 14, 2024

Flagship raises $3.6B for biotech investing

Life sciences

Flagship Pioneering said Wednesday that it’s added another $3.6 billion to its capital base, bringing the total raised since 2021 to $6.4 billion. Meanwhile, Flagship announced more than a dozen promotions and new hires in its leadership ranks. The changes include the promotions of Lovisa Afzelius and Paul Biondi to general partner and the addition of Dina Ciarimboli as general counsel and executive partner.

July 14, 2024

Mikael Dolsten set to leave Pfizer, sparking search for CSO successor

Life sciences

After 15 years at Pfizer, including a career-defining pandemic period, the chief scientific officer will leave the Big Pharma once the drugmaker finds his successor. Dolsten joined Pfizer when the company closed a megamerger with Wyeth in 2009. Pfizer made Dolsten president of worldwide R&D the following year. The executive has stayed at the top of Pfizer’s R&D tree ever since.

July 14, 2024

CDMO Lotte breaks ground on $3.3B production plant in Korea, touts growth goals

Life sciences

Late last week, Lotte Biologics broke ground on its flagship facility at the Songdo Bio Campus in Incheon International City, South Korea. The company is pitching the production effort as a key part of its quest to become one of the top 10 contract development and manufacturing organizations (CDMOs) in the world, Lotte said in a press release.

How can we help you?

We're easy to reach