Puzzle

Gilead to layoff 20% of sales force

Posted on April 10, 2019 by Medtech[y] Staff


Gilead Sciences has confirmed to STAT that they are laying off approximately 20% of their sales force, which comes to 150 sales representatives in Gilead's cardiopulmonary division.

According to the report, there is concern that Gilead's executive team is struggling to find ways to grow revenue as their older drugs, Ranexa and Letairis, have recently lost patent exclusivity.

A spokesperson confirmed the layoffs to STAT and shared they are an "unfortunate but necessary cost cutting move."

The layoffs are effective July 1.

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