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Home » PURDUE PHARMA TO LAY OFF 825 EMPLOYEES
PURDUE PHARMA TO LAY OFF 825 EMPLOYEES
Purdue Pharma is laying off 825 employees, or 38 percent of its work force, after losing a patent case that paves the way for sales of a generic version of its powerful painkiller OxyContin, company officials said Friday. "This is the most painful decision I have had to make in my 20 years at Purdue," Michael Friedman, the company's chief executive, recently told employees. "But we are left with no other options, given the drop in revenues that we are projecting."
Yahoo News (http://news.yahoo.com/news?tmpl=story&u=/ap/20050701/ap_on_bi_ge/purdue_pharma_layoffs_1)
KEYWORDS Daily International Pharma Alert
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21Oct