Amgen announced yesterday that it would reduce company staff by up to 14% due to lower Aranesp sales.
Sales of Amgen's kidney disease-related and chemotherapy-induced anemia Aranesp fell 19% to $578 million in the second quarter from $713 million a year earlier.
"It's the first time in our 27-year history we've had to restructure," Kevin Sharer, Amgen's CEO told The Wall Street Journal. "…Virtually any company with any scale has gone through this kind of event. It's our turn," he said.
Amgen employees were expected to receive a video on their desktops today detailing the restructuring plan.
Sharer has publically rejected analysts' calls for a sales force consolidation, stating the force was already lean enough and was warranted due to its specialization in nephrology and oncology.
Amgen did not immediately return MM&M's call seeking more information on the areas of the company affected by the announced cuts.