Sepracor, King to slash sales forces
In late October, Sepracor announced the elimination of 300 sales force positions as part of a cost cutting plan to reduce expenses by $90 million-$100 million for 2008.
Meanwhile, King Pharmaceuticals will cut 20% of its 2,600 employee workforce after a federal appeals court judge ruled against a patent extension on its blood pressure treatment Altace. Most of the 520 layoffs will come from the firm's field sales force. King anticipates it will save $75 million-$90 million in 2008 as a result of the cuts.