King slashes jobs after Alpharma buyout, Skelaxin ruling
King Pharmaceuticals is eliminating 22% of its staff to address concerns stemming from its $1.6 billion purchase of Alpharma and a court decision that nullifies its patents for Skelaxin, a muscle relaxant. The company plans to eliminate 380 sales jobs and 140 corporate posts in light of the Skelaxin ruling. Job cuts tied to the Alpharma takeover will involve 240 positions.
Wall Street Journal, The | 02/03
This story published in BIO SmartBrief on 02/04/2009
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