Genzyme/Bayer Campath Deal Results in 120 Axes
May 11, 2009 at 11:19 am EST | Tags: Deals & Alliances, Economy & Layoffs, Gossip & Rumors
At the end of March, Bayer announced the
divestment of Campath (alemtuzumab), which is currently approved to
treat B-cell chronic lymphocytic leukemia, to Genzyme in a
multi-billion dollar deal. Genzyme’s (primary) interest in the
antibody was the promising data it’s generated in multiple sclerosis.
Immediately after the deal was announced however, we speculated that the divestment of Campath would come with a substantial layoff for Bayer Campath reps.
The word from our tipster today is that about 20-something (close to 30 actually) reps from Bayer were recruited by Genzyme to stay on the Campath franchise. The number equates to about 20% of the Bayer/Campath sales force, meaning that 80% or about 120 reps were given the axe.
The cuts were done last week. Bayer did not issue a press release.
The pain goes on…
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this true. no warning were given although most reps expected this would come