Making good on a recent promise, Allergan (AGN) disclosed plans to cut 1,000 existing jobs as the company prepares to face generic competition, especially for its second-biggest medicine, the Restasis eye treatment.

The job cuts, which also involve eliminating 400 open positions, are expected to reduce expenses between $300 million and $400 million this year, according to a regulatory filing made on Wednesday. Allergan employs about 18,000 people. Other steps, such as closing buildings, may also occur.

Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!

GET STARTED

What is it?

STAT Plus is a premium subscription that delivers daily market-moving biopharma coverage and in-depth science reporting from a team with decades of industry experience.

What's included?

  • Authoritative biopharma coverage and analysis, interviews with industry pioneers, policy analysis, and first looks at cutting edge laboratories and early stage research
  • Subscriber-only networking events and panel discussions across the country
  • Monthly subscriber-only live chats with our reporters and experts in the field
  • Discounted tickets to industry events and early-bird access to industry reports

Leave a Comment

Please enter your name.
Please enter a comment.

Sign up for our Daily Recap newsletter

A roundup of STAT’s top stories of the day in science and medicine

Privacy Policy