Schering-Plough to cut 1,000 sales jobs

US drug major Schering-Plough has announced that it will cut 1,000 sales posts as part of broader cuts in a move to reduce costs and reposition itself in an ever-changing industry, according to news wire services.

The Kenilworth, New Jersey-based company said it will cut 20% of its US pharmaceutical detailing force, leaving 4,000 positions. The layoffs are part of a 10% reduction in staff announced in April (Marketletters passim). In all, the company hopes cost reductions and layoffs since the buyout of Dutch biotechnology company Organon Biosciences last November will save it $1.5 billion annually by 2012.

The buyout of Organon, for $14.4 billion, fits into the larger pharmaceutical industry trend toward a shift to biotechnology-based products. Many of the largest players in the sector have either been buying biotechnology companies or creating their own biotechnology units to help fill depleted pipelines and position themselves for future blockbuster products, notes the Associated Press.