J&J makes big cuts at Alza and Scios
Two Bay area biotechs, Alza and Scios, are in line for some big layoffs as Johnson & Johnson slims down its pharma operations. Acquired for $12 billion six years ago, J&J says that it is shutting down Alza's Mountain View facility and laying off 600 workers. J&J is largely ending the R&D efforts at Alza, which had been structured to tweak the pharma giant's therapies. The San Jose Mercury News also reported that Scios--which markets Natrecor--has already seen the pink slips fly and more cuts are expected. Two other J&J companies working in medical devices are also expected to undergo significant restructuring.
- read the report from the Wall Street Journal (sub. req.)
Related Articles:
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Big Pharma brings home the cash, slices payroll. Report
J&J: Natrecor study failed to reveal two deaths. Report
Feds seek drug data from Scios. Report
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By Anonymous | Posted 7:06am | May 9, 2008
It make a lot of sense. The companies that discover the drugs that big pharma is selling get closed after they buy the pipeline. Nothing like eating the golden goose. Maybe big pharma should try to learn how to discover drugs from them instead!! They clearly don't know how.
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