Abbott eliminates hundreds of jobs in restructuring

Abbott Laboratories is eliminating some 200 research positions along with several hundred sales jobs to eliminate redundancies created by the $3.7 billion acquisition of Kos Pharmaceuticals. Many of the scientists being laid off were involved in research on early stage clinical compounds that Abbott will stop work on, according to a spokesperson for the company. A number of layoffs will occur in the Chicago area.

- check out the UPI report on the cutbacks

ALSO: As expected, the FDA has approved Abbott Laboratories' blockbuster Humira for use against Crohn's disease, the first approval for a non-arthritis use of the drug. Humira is already approved for rheumatoid arthritis, psoriatic arthritis, and spinal arthritis and analysts say the new approval should boost expected annual revenue from $2 billion to about $2.5 billion. Humira will compete against Remicade, which is infused in a doctor's office. Humira is self-injected twice a month. Abbott may also seek approval to use Humira for psoriasis, R.A. in children and more. Release | Report

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