Valeant Stalks Allergan
To shave $2.7 billion from costs there will be substantial cuts and job losses
What might “ValGan” look like in six months’ time? Considerably leaner. Valeant’s CEO, J. Michael Pearson, highlighted plans for extensive executive and administrative layoffs if the takeover is successful. “These are not people touching the customers,” Pearson said, “They are people sitting in offices, and we don’t need people sitting in offices.” Pearson anticipates that 80 percent of the cuts would occur within the first six months after the deal, a process that is predicted to generate $2.7bn in cost savings.
I spent seven years as a medical writer, writing primary and review manuscripts, congress presentations and marketing materials for numerous – and mostly German – pharmaceutical companies. Prior to my adventures in medical communications, I was a Wellcome Trust PhD student at the University of Edinburgh.
