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Takeda, Pfizer Set Layoffs

by Michael McCoy
May 17, 2010 | A version of this story appeared in Volume 88, Issue 20

Takeda Pharmaceutical will eliminate nearly 1,600 jobs in its North American operation. The Japanese company says it is taking the action to better align its size with its drug portfolio, which is challenged by delays in the development of new products and the 2012 onset of generic competition for Actos, its top-selling product in the U.S. Actos, a diabetes treatment, generated $3.2 billion in sales in the Americas last year. The company has about 5,000 employees in the U.S., including 1,300 at its North American headquarters in Deerfield, Ill., and 840 at its global R&D center in Lake Forest, Ill. Takeda plans to cut about 28% of the staff in Deerfield and at various field offices and about 20% of the jobs in Lake Forest. Meanwhile, Pfizer has decided to sell one of its three buildings in New York City, where the drug giant employs about 4,400 people overall. The company won’t confirm reports that as many as 1,400 people will be affected by the sale. A spokeswoman does say that some of the positions in the building, at 685 Third Ave., will be transferred to locations in New York City; Madison and Peapack, N.J.; and Collegeville, Pa. Pfizer is cutting close to 20,000 jobs as it integrates Wyeth.


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