San Diego-based Santarus (NASDAQ: [[ticker:SNTS]]) said today it is cutting 120 jobs, or 37 percent of its workforce, because a competitor is starting to sell cheaper generic copies of omeprazole sodium bicarbonate (Zegerid). Santarus is ending its promotion of brand-name Zegerid, although it will retain 110 sales reps to promote metformin hydrochloride (Glumetza) for Type 2 diabetes. “This is an extremely difficult decision for our company, but a necessary one in light of the anticipated launch of a generic version of ZEGERID,” said Gerald Proehl, Santarus’ CEO, in a statement.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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