March 03, 2006
J&J’s Scios to eliminate sales and marketing jobs
Johnson & Johnson’s Scios unit told employees it would lay off 150 of its approximately 900 workers, The New York Times reported.
The job cuts will affect sales and marketing staff members in the field and at the Scios home office in Fremont, CA, a J&J spokesperson told the newspaper.
Scios has struggled since sales of its flagship drug, the heart failure treatment Natrecor, began declining last year over safety concerns.
Natrecor sales reached $400 million in 2004. Sales figures for 2005 were not available, the spokesperson said.
The company has said that sales declined significantly after outside medical researchers raised questions last year about whether the treatment increased the risk of kidney problems and death.
J&J paid $2.4 billion for Scios in 2003, largely on Natrecor’s potential.