• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

1

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Health

Big Pharma Just Had a Terrible, Horrible, No Good, Very Bad Week of Job Cuts

By
Sy Mukherjee
Sy Mukherjee
Down Arrow Button Icon
By
Sy Mukherjee
Sy Mukherjee
Down Arrow Button Icon
December 12, 2016, 6:45 AM ET
Add Fortune on Google for similar content.

Nearly a half dozen pharma giants are ending the year on a sour note—at least for their workers.

Five massive companies that hold a combined market cap of more than $228 billion—Mylan (MYL), Eli Lilly (LLY), Endo Pharmaceuticals (ENDP), AstraZeneca (AZN), and Sanofi (SNY)—announced major restructurings and layoffs in the past week, driven by a number of factors ranging from clinical trial failures to wringing off dead weight in the face of flaccid sales.

Here are the firms telegraphing these upcoming job cuts.

Click here to subscribe to Brainstorm Health Daily, our brand new newsletter about health innovations.

Mylan

While Mylan (MYL) has mostly been in the news over its controversial and steep price hike for the EpiPen, it’s also had a busy year of M&As. And deals can foster redundancies that companies are eager to lop off.

The company announced in a regulatory filing earlier this week that it would cut “less than 10%” of its U.S. Details are still sparse, and Mylan declined to comment on the matter further, but the pharma giant says that the cost-cutting drive is due to a string of acquisitions rather than its various scuffles with regulators over the EpiPen. And “less than 10%” is a pretty broad metric at a place like Mylan, which has 35,000 employees around the globe.

Eli Lilly

Eli Lilly had a rough go with its investigational Alzheimer’s treatment solanezumab, which came with high hopes and heavy investments from the Indianapolis-based pharma. But the drug maker decided to drop the treatment after it failed the primary endpoint in a late-stage clinical trial.

That failure comes loaded with consequences for the company’s workers, hundreds of who will be laid off, according to the Indianapolis Business Journal. The cuts will mostly affect Lilly’s U.S. sales reps, especially since the company also plans to stop actively promoting a number of high profile treatments like the erectile dysfunction drug Cialis as it approaches patent expiration.

“In connection to the solanezumab outcome, as well as the company’s decision to stop sales force promotion of several products in expectation of upcoming patent expirations, we informed employees earlier this week that we would be reducing the size of our U.S. Bio-Medicines sales force in the first quarter of 2017 to better meet our future business needs,” a Lilly spokesperson told the Journal.

Endo

Endo Pharmaceuticals, headquartered in Dublin, Ireland and Malvern, Pennsylvania, manufactures specialty and generic medications. And it’s about to chop off 375 workers under its new CEO, Paul Campanelli, who’s trying to shift the company’s strategy away from its flagship pain drug franchise.

Endo has decided to pull back in the space after the backlash to opioid painkillers catalyzed by the ongoing addiction and overdose epidemic in the U.S. “The opioid market and Endo’s strategic priorities have evolved,” said Campanelli in a statement announcing that Endo would be ditching the Belbuca pain product that it had planned to snatch up from BioDelivery Sciences.

AstraZeneca

Britain’s AstraZeneca, which has been struggling under the pressure of patent expirations on best-selling therapies and setbacks in its clinical pipeline, will be slashing 700 jobs across the U.S. in a bid to return to growth.

The cuts don’t come as much of a surprise considering that AstraZeneca had announced plans to try and save $1.1 billion annually earlier this year, necessitating systemic reductions. And reduced sales of major products like Crestor in in the face of competition from generics hasn’t helped the situation.

“We have made the necessary but difficult decisions that are required to reflect our lower U.S. revenues in 2017. We will reduce U.S. commercial business expenses, which includes the elimination of about 700 positions (roughly 80 of those will come from existing vacancies) and a reduction in discretionary spend,” an AstraZeneca spokesperson told Philly.com.

Sanofi

The latest in on this week’s job cut train is also the biggest company on the list, French pharmaceutical giant Sanofi.

Sanofi has long been known for its flagship diabetes franchise, which includes the best-selling insulin Lantus. But that very marquee unit has been grappling with generic competition for several years now (which also helped lead to the ouster of its former CEO). And hotly anticipated new therapies like the next-gen cholesterol-buster Praluent has, so far, been slow to embark on the path to blockbuster sales status that many had projected.

In the face of those struggles, new chief Olivier Brandicourt has been moving the company into a massive re-organization that’s also involved substantial job cuts and a total shakeup of its executive roster, especially the diabetes and cardiovascular unit—the very unit that will now be significantly scaled back in the U.S., to the tune of a 20% staff reduction, the company announced during a meeting on Friday.

About the Author
By Sy Mukherjee
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Health

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Health

How ‘Ozempic face’ is pushing Gen X, already the biggest Botox and filler consumers, to the facelift table a decade early
HealthGen X
How ‘Ozempic face’ is pushing Gen X, already the biggest Botox and filler consumers, to the facelift table a decade early
By Mia OsmonbekovJune 24, 2026
10 hours ago
The 4 Best Zinc Supplements of 2026: Expert Tested
HealthDietary Supplements
The 4 Best Zinc Supplements of 2026: Expert Tested
By Emily PharesJune 24, 2026
10 hours ago
Helix Plus Lead
Healthmattresses
The Best Early 4th of July Mattress Sales of 2026: Saatva, Helix, and More
By Christina SnyderJune 24, 2026
13 hours ago
mg
CommentaryHealth
The ‘tech neck’ time bomb: why 43 million young Americans could cripple U.S. health care within a generation
By Michael GerlingJune 24, 2026
19 hours ago
UPS workers process boxes in a sorting facility.
North AmericaUPS
UPS is shelling out nearly $50 million on temperature-controlled facilities to meet the booming demand for GLP-1 deliveries
By Sasha RogelbergJune 23, 2026
1 day ago
dr
HealthCancer
The U.S. cut cancer deaths by 34% since 1991—but not in 458 rural counties
By Arthur Cosby and The ConversationJune 23, 2026
2 days ago

Most Popular

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
Economy
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
24 hours ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
24 hours ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
2 days ago
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Retail
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
By Nick LichtenbergJune 24, 2026
16 hours ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
18 hours ago
Current price of gold as of June 23, 2026
Personal Finance
Current price of gold as of June 23, 2026
By Danny BakstJune 23, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.