Actavis cuts 350 sales staff after acquisition of Warner Chilcott
US generics major Actavis (NYSE: ACT) says it has completed the restructuring of its US Specialty Brands sales organization, cutting about 350 staff. On Wednesday shares of Actavis edged up 1.5% to $163.20 on the news and were unchanged in aftermarket trading.
The restructuring follows the completion of its $8.5 billion acquisition of Ireland-based specialty drugmaker Warner Chilcott (Nasdaq: WCRX) last month, after the deal was announced in May (The Pharma Letter, May 20). After the restructure, Actavis Specialty Brands will have a sales organization of around 750 US sales people, compared to a combined total of about 1,100 Actavis and Warner Chilcott sales professionals.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
More Features in Generics
| Headless Content Management with Blaze