Layoffs at Amgen
Amgen started layoffs citing drug pricing. Are other Biotechs in the same boat? #biotech #pharma #layoffs #amgen
I think this layoff was due to billion dollar investment in manufacturing to increase volumes.
the layoff was mostly now-remote (due to covid) sales staff brought on with the otezla acquisition from Celgene. when financial results came out we realized they didn’t really love the needle and weren’t needed. covid meant they weren’t visiting doctors offices etc like they normally would, but sales were unaffected. thus they weren’t really doing anything. result = lay those staff off. the other non-sales layoffs were corporate support functions to support those staff. amgen actually committed early on in the pandemic to not layoff anybody for any reason through the end of 2020. they kept their promise
Drug pricing? Are they nuts. Prices have always been sky high. Wth