AstraZeneca today announced that it will transform its US Commercial business as part of the company’s return to growth strategy. Following the company’s Year End Results announcement this past February, these changes reflect the ongoing focus to further streamline and drive greater efficiency across the entire organization. We continue to face loss of exclusivity impacts from many of our legacy products and work to compete in an ever-changing external environment. By diligently prioritizing, we will continue to successfully launch and commercialize new medicines, meet the needs of our customers and patients, and ultimately help AstraZeneca return to growth.
As part of these changes we have made the necessary, but difficult decisions that are required to reflect our lower US revenues in 2017. We will reduce US Commercial Business expenses, which includes the elimination of approximately 700 positions (roughly 80 of those will come from existing vacancies) and a reduction in discretionary spend. The impacted positions are across the US organization, including the company’s North America Commercial headquarters, and some field-based sales and field-based non-sales roles. This reduction will contribute to the planned decline in Core SG&A costs in FY 2016 and FY 2017, as previously announced in February of this year.
While these decisions are in the best interest of our future, this is a difficult time for our entire US organization, particularly for the people who are directly impacted. We will continue our commitment to treat all of our employees with respect and minimize disruption.
NOTES TO EDITORS
AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialization of prescription medicines, primarily for the treatment of diseases in three main therapy areas - Oncology, Cardiovascular & Metabolic Diseases and Respiratory. The Company also is selectively active in the areas of autoimmunity, neuroscience and infection. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information, please visit www.astrazeneca-us.com and follow us on Twitter @AstraZenecaUS.
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