MiddleBrook Pharmaceuticals Announced 100 Job Cuts (MBRK)
Tue. September 01, 2009; Posted: 01:05 PM
Sep 01, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 9/1/2009 - MiddleBrook Pharmaceuticals Inc. (NASDAQ:MBRK) announced Tuesday it eliminated about 100 jobs in order to cut costs. MiddleBrook cut about 25% of its sales representatives and sales management positions and about 20% of its corporate staff. The company expects to pay about $5 million in severance and other costs due to the job cuts, which is estimated to save them approximately $15 million annually. After the reductions, MiddleBrook is left with around 225 sales workers and 28 other staff. The changes were made due to prescription data on its extended release antibiotic Moxatag, but the company said it is maintaining sales coverage of the doctors with the most potential to prescribe the drug.
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