October 28, 2014
Amgen has no plans to split up, layoffs continue
Amgen says it has no plans to split its business à la AbbVie and Abbott, despite pressure to do so from Third Point hedge fund manager Daniel Loeb, the company stated Tuesday in its Q3 earnings. The company says it will continue to restructure its business, however, and will slash 600 to 1,100 employees next year. Amgen announced in July that it would cut 2,900 jobs. Tony Hooper, Amgen's head of commercial operations, says it will launch more drugs in the next three years than it has in the last 25.