Amgen Confirms 380 Layoffs in R&D; Cuts Coming to Seattle, SF, Boston
Summary
Amgen Confirms 380 Layoffs in R&D; Cuts Coming to Seattle, SF, Boston Xconomy National — Word came out of Amgen last week that it was looking to overhaul its R&D operations, and today the biotech giant confirmed the overhaul is translating into job cuts for 380 people across the company.No sites are being closed, and Amgen isn’t eliminating any therapeutic areas from its research portfolio, she says.Amgen plans to discuss the cuts in some more detail next Monday on its quarterly financial conference call, she says.The company is actively pushing the biggest new innovations from its internal pipeline in years—denosumab, marketed for osteoporosis patients as Prolia, and for cancer-related bone loss as Xgeva.In the most recent quarterly report, Amgen said its profits declined about 3 percent compared with the same period a year ago.