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Daiichi Sankyo cuts US workforce in streamlining

Daiichi Sankyo Co. Ltd. intends to reduce its workforce by about 280 employees from various locations in the U.S. as part of a restructuring plan.

The Tokyo-based drugmaker said the U.S. restructuring will streamline its operations as it maximizes opportunities for its current portfolio and prepares for its upcoming oncology pipeline.

Daiichi Sankyo will offer outplacement services, severance and other support to all employees who are impacted by the restructuring.

Ken Keller, president of administrative and commercial for Daiichi Sankyo Inc., said the company plans to bring spending in line with revenue, shift resources to maximize Injectafer and the company's abuse-deterrent pain treatments and focus on developing new cancer treatments.