SPOTLIGHT: Amgen cuts may spark start-ups
Suffering from falling sales of its blockbuster anemia drugs, Amgen recently chopped its workforce as part of a widespread restructuring aimed at slicing out a billion dollars in expenses. But rather than devastating the Ventura County, where Amgen is located, the company's layoffs may actually be a boon for Ventura County. Some observers speculate that the well-educated, affluent Amgen cast-offs have the know-how and desire to start their own tiny biotechs. Report
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By Anonymous | Posted 6:19pm | September 22, 2007
Wishful thinking! First, the cost to start such a "bio-tech" company make it unrealistic! Especially in the Southern California market. Second, Don't think for a second that the "Big Dog" Amgen would not attempt to halt such a venture. Amgen is just another Money Making company and would fight ANY competition. Third, it takes YEARS and MILLIONS of dollars to research and develop a drug. If such a venture were to be taken, financially it would make sense to start outside of Southern California. Bottom line is that Merck and Amgen are laying off. These persons will most likely be looking for jobs in the East Coast. A few may be absorbed here, but not many (and at drastic pay cuts). Our local economy will suffer from this....there is no silver lining with this one, many good paying jobs will be lost.
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