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By Jane Chin, Ph.D. of Jane Chin Associates on Sep 25 2007 12:01PM
 
No Surprise: Amgen Lays Off 675 People
 
According to Los Angeles Daily News, Amgen's 675 layoffs represent 8% of its 8,300 Thousand Oaks employees, but no one is too surprised. Amgen's layoffs will have an impact on the southern California economy given the recent downward spiral of Countrywide Financial Corp's 20% workforce layoff (about 10,000 jobs). For those of us in the pharmaceutical industry, however, we've been expecting this ever since Amgen's star drug Aranesp faced reimbursement difficulties and safety concerns. Aranesp is often used in cancer patients undergoing chemotherapy to help boost their blood counts.
 
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Jane Chin, Ph.D. Of Jane Chin Associates
Mark, when you consider the fact that executives speak about blockbuster drug status like their lives depended on it (well... at least their bonuses do) it's no wonder that pharma keeps looking to "the next blockbuster". Never mind sexy concepts about niche markets and inflection points and terms that consultants throw out there and write books about. In pharma it's still "if it ain't broke, don't fix it, and if it's broke, er, let's hire someone to tell us that it ain't broke."
Wed Sep 26, 2007 6:28 PM

Mark Durbin Of Gannett
It amazes me that these drugs are like mini economies. Their approval or lack there of has huge economic impacts on all types of other industries like law, advertising, pharmacy etc.
Tue Sep 25, 2007 4:47 PM
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