Japan’s largest drug maker, Takeda Pharmaceuticals Co is planning to cut 1,600 pharmaceutical jobs in the US.
The move comes in response to a decline in the sales of its blockbuster diabetes drug. In 2012 the pharmaceutical company is set to face fierce competition from rival diabetes drug Actos.
The pharmaceutical company hopes to save an estimated $500 million by cutting pharmaceutical jobs mostly in the US. Job cuts will take place at the Deerfield-based Takeda Pharmaceuticals North America headquarters and will cut headcount here by 28%.
Pharmaceutical job cuts will also take place at Takeda Global Research and Development Centre in Lake Forest, which employs 840 people.
Kara Hoger, a spokeswoman for the Japanese pharmaceutical company, stated that he pharmaceutical job cuts were being made “to reduce costs and better align the organisations with the company’s current product portfolio, which is challenged by development delays and patent expirations of some of our core products.”
Looking for a job in the pharmaceutical industry? Click here to search our current pharmaceutical job vacancies now.