Sepracor, King to slash sales forcesSmall pharma is taking a cue from its Big Pharma brethren as it trims its sales force size to improve market position.
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.