Amgen Cuts 300 Jobs as Pharmaceutical Industry Struggles

On Monday, Amgen confirmed to BioSpace that it is making significant organizational changes, including the layoff of around 300 team members, in order to better position the company against challenging industry conditions. These layoffs come as a consequence of the need to stay competitive and ensure the company’s long-term success.

Amgen announced it will be cutting jobs from its commercial team, mainly affecting employees based in the U.S. Fortunately, affected staff will receive transitional support to help them through this difficult time.

Current employees are standing together in solidarity to support their colleagues, using LinkedIn to help them find new job opportunities in 2023. Their collective effort is a testament to the strength and resilience of their relationships and an inspiring example of how a supportive community can come together in times of need.

Amid the economic struggles of the current climate, Amgen is just one of the many biopharmaceutical companies that have been forced to resort to layoffs. These cutbacks are indicative of the immense pressures that the industry is facing, despite their best efforts to remain resilient.

Last week, Celularity launched a strategic review that could potentially lead to job cuts for some employees. Robert J. Hariri, CEO of the company, stated that the review was necessary to ensure the success of the company’s most promising candidates and programs. He further added that the realignment of the business was necessary to ensure the company’s long-term growth and success.

Massachusetts-based Finch Therapeutics recently made the difficult decision to cut 95% of its headcount after failing to secure sufficient funding and partnerships. This forced the company to discontinue its Phase III PRISM4 trial of the investigational Clostridioides difficile therapeutic CP101.

Even the most powerful players in the industry are feeling the pressure. From the biggest names to the smallest, everyone is feeling the strain of the current market conditions. No one is immune to the challenges of the times and it’s taking a toll on all aspects of the industry.

Merck KGaA’s EMD Serono is saying goodbye to 133 valued members of its Massachusetts research facility. The affected staff members will be missed by their colleagues and the organization as a whole.

In November 2022, the company announced a major shift in strategy, unveiling plans to partner with external firms and license in more than half of their future launches. This bold move signaled a new era of collaboration and innovation for the company.

Amgen Gears Up for a Busy Year

Amgen has kicked off the year with a bang, taking decisive action to position itself for a successful 2021. From launching new treatments to restructuring its business operations, the biotech giant has been busy preparing for a prosperous future. With these ambitious moves, Amgen looks poised to make waves in the healthcare industry in the months to come.

In a massive move for the biotech industry, California-based company swooped in to acquire Horizon Therapeutics in December, shelling out a staggering $26.4 billion for the rare disease leader. This transaction is the largest in the biotechnology sector this year, and is sure to have a significant impact on the drug development landscape.

Amgen’s bold move to expand its reach in the biotechnology industry has given it a firm position as a major industry leader, evident in the stock market’s unwavering trust despite Sen. Elizabeth Warren’s (D-MA) letter to FTC commissioners. This strategic move has ensured Amgen’s place as a vital frontrunner, solidifying its place in the industry.

Amgen kicked off 2023 in style with an immense $2 billion partnership with Netherlands-based Synaffix to uncover and create advanced antibody-drug conjugates. With this agreement, Amgen has gained access to Synaffix’s complete ADC development platform, allowing them to use it for up to four more projects. This groundbreaking collaboration is sure to bring groundbreaking results.

At the 41st J.P. Morgan Healthcare Conference, Amgen Chairman and CEO Robert J. Bradway declared that acquisitions and agreements are the key to the company’s expansion. These strategic partnerships expand Amgen’s portfolio and help it to become a leader in a variety of therapeutic spaces. With this approach, the company is securing its future growth.

By 2030, Amgen is set to remain financially secure through Bradway’s wise allocation of capital and strategic investments in both internal research and development and external innovation. This approach ensures that Amgen will remain a leader in the biopharmaceutical industry for years to come.

Leave a Comment