Gilead to lay off one fifth of sales force
Gilead Sciences is preparing to lay off around a fifth of its salesforce in anticipation for the expiry of patents on two of the company’s older drugs.
Gilead will lay off around 150 cardiopulmonary sales representatives as generic versions of the firm’s heart drugs, Letairis and Ranexa, are set to hit the market.
While Letairis and Ranexa brought in $943 million and $758 million, respectively, in 2018 – Ranexa’s patent expires next month while multiple generics have already been approved for Letairis.
The two drugs generated around 8% of Gilead’s overall sales.
In total Gilead has 11,000 employees. The redundancy of 150 tenured sales people has been described as a cost cutting move.
The decision was first put into motion almost two years ago, according to BioCentury.
Gilead Sciences has announced the acquisition of all outstanding shares of XinThera, a privately-owned biotech …
The charity Breast Cancer Now has launched a petition calling on Gilead to provide free-of-charge …