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Abbott Labs Cutting 1900 Jobs As Restructuring the The Drug Division Takes Place

Posted Jan 27 2011 3:03am

The cuts amount to around 2% of the workforce.  The company has also had their share of recalls and the glucose strips were huge and again states the need for a way of consumers, doctors and pharmacists to identify them.  image

In addition there were problems with Meridia which was also made by Abbott and they are feeling the pinch just as are many other pharma companies.  BD

Jan. 26 (Bloomberg) -- Abbott Laboratories, maker of the rheumatoid arthritis drug Humira, said it will cut about 1,900 jobs as part of a restructuring of its pharmaceutical business.

The cuts, amounting to 2 percent of the workforce, will help the Abbott Park, Illinois-based company cope with the U.S. health-care law passed last year, Abbott said in a statement today. The drugmaker said it would take charges of about $295 million in the coming years to transfer product manufacturing to new locations, including about $165 million this year.

The job cuts come “in response to changes in the health- care industry, including U.S. health-care reform and the challenging regulatory environment,” Abbott said in the statement. The move will “streamline commercial and manufacturing operations, improve efficiencies and reduce costs.”

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