2007 has been a rough year for a number of the pharmaceutical and biotech industryâ€™s biggest players. Concerns about patent expirations, falling sales due to drug safety concerns, redundancy from acquisitions and a general need streamline operations contributed to these companiesâ€™ decisions to cut employees. Check out this list of the top five pharma and biotech layoffs of 2007 for more on the cuts and a look at what these companies are doing to turn things around.
5. GlaxoSmithKline - 5,000 jobs*
7. Novartis - 3,750 jobs*
*These job cut announcement occured after the date this report was originally published.Â GSK announced cuts on 10/25/07, BMS on 12/6/07Â and Novartis on 12/13/07.