Nearly two-thirds of Bradley Pharmaceuticals work force is expected to be let go following the company’s acquisition by Nycomed.
According to a report in the Star-Ledger, Nycomed, a Swiss specialty drugmaker that has local offices in Florham Park, told New Jersey state officials that it plans to eliminate 196 jobs that were once based at Bradley’s headquarters in Fairfield. The layoffs take effect April 30, according to information on the New Jersey Department of Labor’s website.
When the $346 million deal was completed last month, Nycomed said it would transfer “key employees” of Bradley from Fairfield to Florham Park, which will be home to the Swiss company’s PharmaDerm division. Prior to the sale, Bradley had roughly 300 employees.
An undisclosed number of layoffs were also made on Nycomed’s side. The PharmaDerm unit will have 150 to 160 employees, some 30 to 35 of whom will work at Florham Park, the Star-Ledger reported.
The purchase of Bradley makes privately held Nycomed one of the top five companies selling prescription dermatology products.
