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Reimbursement Shift Takes Its Toll

CMS Edict Forces Amgen's Hand: Staff Cutbacks Ahead

By Randall Osborne

Thursday, August 16, 2007
After the market closed Wednesday, Amgen Inc. - faced with label changes to include warnings and lowered reimbursement for two of its major products - made public its plan to reduce staff by 12 percent to 14 percent, or as many as 2,600 jobs, gaining a pre-tax savings of $1 billion to $1.3 billion in 2008. (BioWorld Today)

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