Facing competition for Restasis, Allergan moves to cut costs by slashing 1,400 jobs

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Allergan (NYSE:AGN) said this week that it plans to cut more than 5% of its workforce in an attempt to cut costs. The drug-maker is facing competition from up-coming generics to its dry-eye drug, Restasis.

The company said it anticipates taking a $125 million hit from the job cuts, the majority of which will be noted in the fourth quarter of the 2017 fiscal year.

Get the full story at our sister site, Drug Delivery Business News.

The post Facing competition for Restasis, Allergan moves to cut costs by slashing 1,400 jobs appeared first on MassDevice.

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