December 19, 2012 | By Márcio Barra
Since Pfizer’s Lipitor patent expired last year in November, their colesterol-lowering statin that gave the company $9.6 billion in revenue in 2011, Pfizer has been shriking down more and more to help contain costs. As part of Pfizer’s CEO Ian Read’s promise to investment analysts to chop off $1 billion in savings in 2012, back in October this year, Pfizer Canada laid off 11% of its workforce, a majority of them from the sales and Marketing Department.
Now, news of more lay offs are coming in from the U.S. Bloomberg reported that Pfizer is now firing almost 20% of their primary-care sales force, comprised of roughly 3000 people.
Eliquis recent approval may signal a turn of this trend, as the company may require more workforce this spring if the FDA follows Europe foot trails and approves it for sale. The company new found focus on niche markets however, may signal the end of the usual massive sales support workforce for a drug.