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Amylin to cut a third of salesforce

Amylin Pharmaceuticals announced this week that it will reduce its total number of sales representatives by approximately 35 per cent or 200 employees as part of its new approach to sales within the diabetes market

Amylin Pharmaceuticals announced this week that it will reduce its total number of sales representatives by approximately 35 per cent or 200 employees as part of its new approach to sales within the diabetes market.

The US drugmaker's existing primary care and speciality sales forces will merge into a single organisation of 325 salespeople that brings "a speciality approach to endocrinologists and diabetes-focused primary care physicians", the company said.

The new approach is in part aimed at improving the efficiency and effectiveness of Amylin's partnership with Eli Lilly for Byetta (exenatide), and the development of a once-a-week version through that alliance. It will also help to maximise the value of Amylin's current and future portfolio of first-in-class diabetes products.

The changes to Amylin's field sales organisation will be coordinated and aligned with the continuing Byetta sales efforts of Lilly. Lilly will continue its efforts with the endocrinology and larger primary-care prescriber market to support sales of Byetta in type 2 diabetes.

Daniel Bradbury, president and CEO at Amylin Pharmaceuticals said: "This new, more focused approach to sales optimises Amylin's sales organisation for our portfolio today and in the future, and will enable us to improve the quality of our interactions with core prescribers through more efficient and frequent interactions."

The company said it will take a one-time restructuring charge of $13m to $15m in the second quarter, and save about $20m this year as a result of the changes. Starting in 2010, it said the job cuts will save $45m per year.

The changes are expected to be implemented within a few weeks. In aftermarket trading after the announcement on Monday, May 04, Amylin shares rose five cents to $11.63.

5th May 2009

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