Oscient to cut sales and marketing forces by 180

Share this article:
Waltham, MA-based Oscient Pharmaceuticals announced a restructuring that will result in 180 layoffs, including its 150-person sales force and approximately 30 other sales and marketing positions, the company said in a release. The layoffs with begin next month.

The cuts follow the company's decision – based on the conservation of financial resources – to discontinue sales force promotion on two products: Antara (fenofibrate), a cardiovascular drug, and Factive (gemifloxacin mesylate), an antibiotic. The products will continue to be available to physicians and patients.

The company reported a net loss of $11.5 million during the fourth quarter of 2008, up from a net loss of $14.7 million in Q4 2007, according to an annual report. Sales revenue for Antara was up during the same period, reaching $21.2 million during the fourth quarter, from $19.3 million during Q4 2007. Factive, however, decreased from $5.9 million during Q4 of 2007 to $5.1 million during Q4 2008, according to the report.
Share this article:

Email Newsletters

More in News

Astellas, DOJ settle for $7.3M

Astellas, DOJ settle for $7.3M

Astellas has settled a False Claims case with the Department of Justice over the 2010-2013 marketing of an antifungal medication. Astellas denies the allegations.

Boehringer drug lands US, EU orphan tag

Boehringer drug lands US, EU orphan tag

The experimental Breakthrough Therapy treatment is for acute myeloid leukemia.

Omnio app moves to smartphones

Omnio app moves to smartphones

Physicians Interactive is introducing the third wave of its Omnio app, making the tablet-only tool available for iPhones and Android phones.