AstraZeneca Fires 7000
AstraZeneca, the UK drug company, became the latest victim of patent expiration of drugs made by big pharma. It will fire 7,000 workers. Its blockbuster drugs are no longer protected from generic, and its R&D staffs cannot replace the highly successful …
AstraZeneca, the UK drug company, became the latest victim of patent expiration of drugs made by big pharma. It will fire 7,000 workers. Its blockbuster drugs are no longer protected from generic, and its R&D staffs cannot replace the highly successful drugs fast enough. The same fate has befallen US companies like Pfizer.
These pharma giants now operate in a world in which much smaller biotech companies create new drugs and take them to market. These small companies can make money on just one or two drugs because of their cost. All AstraZeneca can hope is that it buys enough of these firms to prop up its revenue
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