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Home Blog Home   October 2010

2010: A Year of Big Layoffs for Big Pharma

Thursday, October 21, 2010 at 12:00:00 AM


According to the newly released Job-Cut Announcement Report from outplacement consultancy firm Challenger, Gray & Christmas, pharma has cut more than 6,000 jobs in September alone, and more than 43,000 so far this year.

Which companies have contributed to this staggering number, and what are the underlying causes of job losses in the industry?

Most recently, Sanofi-Aventis announced its plans to eliminate 1,700 jobs in its US pharma business—about 25 percent of the company’s US pharma workers. The majority of jobs lost will be sales positions, and a small number of administrative jobs will disappear as well.

Before that, in September, Roche announced its “Operational Excellence Initiative,” which—while partly intended to analyze and restructure different segments of the company to maximize productivity and ROI—ultimately amounted to job cuts in an effort to “set the right priorities to ensure a successful future,” according to a statement released by Roche.

In May, Pfizer announced 6,000 layoffs that it said was part of “manufacturing reorganization” following its 2009 Wyeth acquisition. Possibly part of its plan to remain on track for its targeted cost reduction of $4 to $5 billion by the end of 2012, Pfizer has gone from nearly 114,000 employees internationally in Q 1 2010 to around 33,000 as of May of this year, according to a story on DailyFinance.com.

Following its 2009 acquisition of Schering-Plough, Merck began making cuts in February. The post-merger cuts would be a way to “eliminate some of the duplication,” according to a statement made in January by Merck CEO Dick Clark. “We have taken the best from both companies, from a process standpoint and a people standpo...

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Pharmaceutical Pipelines Begin to Show Promise

Thursday, October 14, 2010 at 12:00:00 AM


The predicted five percent to seven percent growth of the global pharma industry surpasses the four to five percent pace of increase from 2010.

According to a forecast released last week by IMS Health, the value of the global pharmaceutical market is expected to grow five percent to seven percent next year, reaching $880 billion.The IMS forecast takes into account macroeconomic conditions, changing levels of patient access, availability of drug treatment options, and pricing factors.

As countries recover from the global economic crisis at different rates, there is growing divergence in the pace of pharmaceutical growth among major markets, says the report. The 17 pharmerging countries are forecast to grow at a 15 percent to 17 percent rate in 2011, to $170-180 billion. Many of these markets are benefiting from greater government spending on healthcare and broader public and private healthcare funding, which is driving greater demand and access to medicines. China, which is predicted to grow 25 percent to 27 percent to more than $50 billion next year, is now the world’s third-largest pharmaceutical market.

Among major developed countries, Japan is forecast to grow 5 percent to 7 percent in 2011. The five major European markets (Germany, France, Italy, Spain, and the U.K.) collectively will grow at a 1 percent to 3 percent pace, as will Canada.

The US will remain the single largest pharmaceutical market, with 3 percent to 5 percent growth expected next year. Pharmaceutical sales in the US will reach $320- $330 billion, up from $310 billion forecast for this year, not including the impact of off-invoice discounts or rebates.

See the Posted By Rich Kneece.
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Tags: Drugs  Growth  Industry  Pharmaceuticals  Pipeline  Sales