9. December 2011 11:07
AstraZeneca will reduce its US sales force by nearly a quarter (24%) as part of new plans to operate its business more efficiently.
Approximately 1,150 leadership and sales representative positions will be axed in the plans which the company claims will cost between $50 and $100 million.
Rich Fante, President, AstraZeneca US, says the job cuts are “difficult decisions that impact valued employees”.
The reduction to the US sales force is incremental to the company’s second phase of its restructuring programme first revealed at the start of the year.
“The changes we are making, however, will help us deliver better results for our business and, most importantly, continue delivering on our mission of patient health,” said Mr Fante.
Employees will have the option of voluntary redundancy with all decision finalised by early February 2012.
Despite streamlining its US operations, AstraZeneca has revealed plans to expand its presence in emerging markets after agreeing to buy Chinese generics maker Guangdong BeiKang Pharmaceutical.
The deal is AZ’s second generic acquisition in the country after its partnership with Aurobindo Pharma. A $200 million manufacturing facility in China is also planned.