ASTRAZENECA TO STREAMLINE US SALES ORGANISATION
AstraZeneca announced today that it will reduce its US sales force by approximately 1,150 leadership positions and sales representatives as part of the company's ongoing strategy to operate its business more efficiently to best serve patients in the US.
These changes, which were not included in previously announced efficiencies to the US business, will account for roughly 24 per cent of the company's sales organisation in the US. The impact of the changes will vary by geography and selling teams.
"These are difficult decisions that impact valued employees," said Rich Fante, President, AstraZeneca US. "The changes we are making, however, will help us deliver better results for our business and, most importantly, continue delivering on our mission of patient health."
Employees will have the option to self-identify to potentially leave the company. All decisions will be finalised by early February 2012.
This change to the US sales force is incremental to the ongoing second phase of the company's restructuring programme that was announced in January 2010. As a result, a discreet restructuring cost associated with today's announced changes, estimated at between $50 million to $100 million, will be charged in the fourth quarter of 2011. Restructuring costs are excluded from the company's core financial measures, so this initiative has no impact on guidance for core earnings per share for 2011.
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NOTES TO EDITORS
About AstraZeneca
AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialisation of prescription medicines for gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com
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