Sumitomo Pharma To Cut 400 US Employees Amid Latuda LOE

Subsidiary CEO To Step Down

 
• By Lisa Takagi

After reducing 500 employees last year while reorganizing its subsidiaries in the US in the aftermath of patent expiration for its mainstay product Latuda, the Japanese firm has decided to move ahead with another rationalization affecting 400 employees there.

Sumitomo decided the second lay-off in its American subsidiary, which cut 40% of its employee in total.
Sumitomo decides on second round of US lay-offs after Latuda expiry • Source: Shutterstock

More from Business

More from Scrip