Sumitomo Pharma Co., Ltd. has decided to cut another 400 employees at its US subsidiary Sumitomo Pharma America, Inc. (SPMA) after already reducing headcount there by 500 in an earlier reorganization in July 2023.
Sumitomo Pharma To Cut 400 US Employees Amid Latuda LOE
Subsidiary CEO To Step Down
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.
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