Sepracor to cut sales force jobs

Share this article:

Sepracor will eliminate 300 sales force positions as part of a cost cutting plan to reduce expenses by $90 million-$100 million for 2008.

“We have examined our sales organization in depth,” Adrian Adams, Sepracor's CEO said in a telephone conference with analysts today. “We believe we have an opportunity to significantly raise the performance level so that we can see a positive impact in 2008. We believe that this is an example where we'll be able to do more with less.”

Meanwhile, Sepracor's third quarter profits fell 33% driven by declining revenue from asthma drug Xopenex.

Sales of Xopenex declined for the second straight quarter since Medicare cut reimbursement rates for the drug.

Sales of sleeping pill Lunesta, Sepracor's top-selling product, were up 14% during the quarter.

For more details on Sepracor's third quarter earnings, click here.

Share this article:

Email Newsletters

More in News

House bill would speed approval once EU OKs same product

House bill would speed approval once EU OKs ...

The Speeding Access to Already Approved Pharmaceuticals Act of 2014 would require FDA to expedite the review of pharmaceuticals that are already approved by the European Union

Rep access continues to shrink

Rep access continues to shrink

Sales reps are experiencing even more limited physician access, according to a report by Chicago consultancy ZS Associates.

Allergan touts reorg, plans to lay off 13% of workforce

Allergan touts reorg, plans to lay off 13% ...

Allergan's second-quarter earnings, and a new round of cuts, are now part of the Botox maker's record as it seeks to remain independent.