Santarus Cuts 120 Jobs

7/1/10

San Diego-based Santarus (NASDAQ: SNTS) said today it is cutting 120 jobs, or 37 percent of its workforce, because a competitor is starting to sell cheaper generic copies of omeprazole sodium bicarbonate (Zegerid). Santarus is ending its promotion of brand-name Zegerid, although it will retain 110 sales reps to promote metformin hydrochloride (Glumetza) for Type 2 diabetes. “This is an extremely difficult decision for our company, but a necessary one in light of the anticipated launch of a generic version of ZEGERID,” said Gerald Proehl, Santarus’ CEO, in a statement.

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