It’s no surprise that AstraZeneca CEO David Brennan is promising more layoffs among his pharmaceutical sales rep force — he promised to ax AZ’s headcount by 15,000 people in 2007. The question is, will 15,000 be enough?
It may not be. While AZ is beset by the same problems that all Big Pharma companies have (lucrative brands with market exclusivity suddenly facing a wave of cheap generic competition), AZ had hoped its problems could be ameliorated by the launch of Onglyza, its diabetes drug. Onglyza is chemically similar to, and competes with, Januvia, a blockbuster for Merck that made $600 million in revenues in Q3 2010.
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