Japan's Daiichi Sankyo to cut as many as 1,200 U.S. jobs in reorganization

Japan's Daiichi Sankyo will cut as many as 1,200 jobs in the U.S. as it braces for the loss of patent protection on top treatment Benicar and shakes up the organization for a transition to a specialty portfolio in cardiovascular, pain management and oncology. "As we face the loss of exclusivity in the coming year of our largest product, we also look ahead to great opportunities with our emerging portfolio in cardiology, oncology, fibromyalgia and pain relief," Ken Keller, president for U.S. Commercial operations, said in a release. The cuts will come in the head office at Parsippany, New Jersey, and field-based sales and other positions elsewhere. "This reorganization is not focused on U.S.-based R&D functions, which have staff concentrated in Edison, New Jersey, or its packaging plant in Bethlehem, Pennsylvania," the company said. Release