Abbott to cut primary care sales reps
Abbott Laboratories plans to eliminate “several hundred” primary care sales representative jobs across the US, a company spokesman confirmed.
The cuts are related to the company’s 2006 acquisition of Kos Pharmaceuticals for $3.7 billion, according to Scott Stoffel, Abbott spokesman.
“We’ve been working to integrate the Kos sales force with Abbott’s primary care sales force,” Stoffel told MM&M. “We used an analysis based on factors like historical performance, product expertise and geography to create a new combined pharmaceutical primary care sales organization that will best serve our customers and eliminate duplications.”
Sales reps affected by the cuts were informed in February and March, according to Stoffel.
Abbott plans to eliminate 200 scientist jobs at its Lake County, IL, facilities as part of its decision to phase out its development of drugs for metabolic diseases.
“We’re going to be focusing on fewer specific diseases, which we feel will better position Abbott to discover andadvance medications,” Stoffel said.
Abbott agreed to buy specialty firm Kos for $3.7 billion in November, a move complementing its cardiovascular franchise and boosts its pipeline.