Amgen to cut workforce by 12-14 percent

After a week of speculation, Amgen announced that the company will be cutting its workforce by as much as 14 percent, or 2600 jobs. Recently, Amgen's stock has taken a dive as concerns have mounted that the anti-anemia drugs Aranesp and Epogen could be linked to a higher rate of death. Sales of the two blockbusters have been sluggish since the FDA placed harsher warnings on the drugs. Amgen predicts that the cuts will save the company up to $1.3 billion in 2008. Read more...

- see the announcement from Amgen

Related Articles

> Report: Amgen looks at layoffs in restructuring

> Major challenges loom for Amgen

> Amgen in crisis? Not us, says CEO Sharer

> Amgen stock slips as anemia drug concerns rise

> FDA group recommends anemia drug limits

Suggested Articles

Merck KGaA has big plans for a site in Switzerland where it intends to knit together biologics development and manufacturing. 

Biocon’s key biosimilars plant in Bengaluru, India, has gotten mixed reviews from the FDA and has now received a Form 483 with five observations.

Eli Lilly and Incyte are investing heavily in JAK inhibitor Olumiant's chances in atopic dermatitis, but does it stand a chance against Dupixent?