Amjin will cut another 172 jobs after announcing them earlier this month

last week, Amjin submitted an employee adjustment and retraining document to Massachusetts. The company reported plans to cut 149 jobs from December 31, 2019. The company now reports plans to cut 172 jobs at its headquarters and in its field operations. This time, California filed a warning. Most of the work will be in field positions across the United States, although some will take place in Thousand Oaks, California, the company's headquarters. These will also take place on 31 December.
The layoffs in Massachusetts are linked to Amgen's termination of its neuroscience research. For the past five years, it has been expanding its operations in New England, moving staff from California to Kendall Square in Cambridge. Some cambridge university staff have been relocated to other parts of North America. The Cambridge plant will continue to focus on the "process development process" of pipeline products and next-generation technologies.
In its third-quarter financial report, the company announced plans to pull out of neuroscience. Instead, it plans to re-focus on cardiovascular, tumor and inflammatory diseases. A total of about 180 jobs were affected, 149 of them in Massachusetts.
In accordance with the new announcement, an AMSC spokesman said that AMSC regularly evaluates and adjusts staffing levels to meet business needs. While these decisions have never been easy, we believe that our competitiveness will be enhanced by a greater focus on investments that can help patients access important drugs to treat life-threatening diseases.
Amjin is facing general competition. The company will soon face generic competition from the thyroid drug Sensipar, which has recently been launched into the immune system-boosting Neupogen and Neulasta, as well as the anemia drug Epogen. Biosimilars for Enley immunotherapy drugs have been approved but are not yet available.
In addition to these cuts and shifts from neuroscience, Amgen is trying to tilt toward oncology and the Chinese market. On November 1st Amjin significantly expanded its business in China by holding a 20.5 per cent stake in China-based Beijin.
Under the terms of the strategic partnership, Amgen paid about $2.7 billion in cash, equivalent to $174.85 per BeiGen American Deposit stock on NASDAQ, 36 percent higher than BeiGen's average share price for the 30 days to October 30. Amjin will nominate a person to the board of directors of Northward.
Under the agreement, Baiji will commercialize Xgeva, Kyprolis and Blincyto in China. The two companies will distribute profits and losses evenly. Two of them will return to Amgen in five years and the other in seven. At the end of the commercialization period, Baiji will be able to retain a product and receive a royalties for the product returned to Amjin over the next five years.
The two companies will also work together to develop 20 drugs in Amjin's cancer pipelines in China and around the world. It will invest up to $1.25 billion in research and development costs. Amjin will pay Royalties to Beijin for the sale of these drugs outside China, with the exception of Amjin 510, which is developing products for physical tumors.
AmSyn plans to continue selling its non-cancer drugs in China. Earlier this year, for example, it launched a cholesterol-specific ribata in China. It plans to launch more products other than cancer in China in the next few years, including Prolia for osteoporosis.Robert Bradway, Chairman and CEO of Amway, said, "The strategic partnership with Amway will enable Amway to expand its operations in the world's most populous country to serve more patients." Cancer is Chinese cause of death in Chinese, and as the population ages, it will only become a more pressing public health problem. With its extensive commercial and clinical capabilities in China and commitment to global quality standards, We are the ideal strategic partner as we seek to make a meaningful difference in the lives of millions of cancer patients in China and around the world. ”（cyy123.com）