Abbott Cut About 175 US Drug Sales Jobs In March
March 31 2010 - 3:30PM
Dow Jones News
Abbott Laboratories (ABT) cut about 175 U.S. pharmaceutical
sales representative positions earlier in March while shifting
resources in the business, a company spokesman confirmed
Wednesday.
The Abbott Park, Ill., company has about 83,000 employees
worldwide.
The cuts came shortly after Abbott closed its $6.2 billion
acquisition of Belgium-based Solvay Pharmaceuticals, but are not
related, said Abbott spokesman Scott Stoffel.
Meantime, the cuts preceded Tuesday's news that the Food and
Drug Administration requested more details for a proposed drug
called Certriad, which is a combination cholesterol drug
co-developed by Abbott and AstraZeneca PLC (AZN). Despite the FDA's
"complete response letter" on Certriad, "there's no plans for any
additional" sales-force cuts, Stoffel said.
Shares of Abbott recently traded up 0.3% to $52.68.
-By Jon Kamp, Dow Jones Newswires; 617-654-6728;
jon.kamp@dowjones.com
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