NEW YORK (AP) -- Drugmaker Actavis said Wednesday it has cut about 350 U.S. sales jobs since its purchase of Warner Chilcott closed in October.
Actavis said it has restructured its U.S. specialty brands unit. There are now about 750 sales representatives and managers in the division, down from about 1,100 when the purchase of Warner Chilcott closed on Oct. 1, it said.
Actavis bought Warner Chilcott for $8.5 billion, expanding its women's health and urology business and giving it a range of dermatology and gastroenterology products. The deal made Actavis the third-largest specialty pharmaceutical company in the U.S. market. It also relocated to Ireland as part of the deal, which could reduce its tax liabilities.
At the end of 2012 Actavis had 17,700 employees and Warner Chilcott had 2,100. At the time Actavis had just combined with Watson Pharmaceuticals.
Shares of Actavis picked up $2.35 to $163.20 on Wednesday, and they were unchanged in aftermarket trading.
- Health Care Industry
- Warner Chilcott