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.
The company said the restructured sales organization will have equal or better coverage than the legacy Warner Chilcott sales organization in all therapeutic areas, including women's health, urology, gastroenterology and dermatology. It also includes a number of institutional representatives to support promotion to clinics.
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
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze