Takeda lays off more than half of Ariad’s US staff
Takeda acquired Ariad Pharmaceuticals at the beginning on the year for $5.2 billion, a price many thought was relatively high but satisfied Takeda’s well-known desire to bolster its business with an acquisition. As often happens after a takeover, however, the job cuts have begun – with Takeda having shed 180 staff from a total of nearly 300 members of staff from Ariad’s US operations.
The reason for the job cuts is in the name of slim-lining the business to incorporate it into its Boston-based operations. Of the 180 who have lost their jobs, a planned 50 will be reabsorbed into Takeda’s Boston base. Takeda has also stated that the remaining staff members not offered positions in Boston will be given priority for other jobs opening up worldwide.
The job losses will be felt across the business at Ariad, with positions cut from R&D, its administrative side and in support roles.
“Companies coming together in a merger often experience overlaps in job responsibilities, and this is the case with Takeda’s acquisition of Ariad,” Takeda released in a statement. “We took time to make thoughtful, strategic decisions, and at this time, all legacy Ariad employees have been informed of the status of their jobs. We are confident that the legacy Ariad employees transitioning to Takeda will help create one, strong team dedicated to achieving our vision of curing cancer.”
The latest reports suggest that Takeda is by no means finished with its global expansion after acquiring Ariad. The difficulty that Takeda faces is finding a deal worth shelling out for, especially after taking on an additional $3.5 billion in debt with the Ariad deal.
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