Al­ler­gan ax­ing 1,000-plus jobs, prep­ping for a painful on­slaught of Resta­sis knock­offs

Al­ler­gan $AGN is slash­ing more than a thou­sand jobs and elim­i­nat­ing 400 open po­si­tions as it braces for the painful im­pact of gener­ic com­pe­ti­tion to its big Resta­sis fran­chise.

Al­ler­gan CEO Brent Saun­ders has been slap­ping back at crit­ics af­ter try­ing to guard its IP on its $1.5 bil­lion eye drug Resta­sis by trans­fer­ring the patents to a Mo­hawk In­di­an tribe, which claimed sov­er­eign im­mu­ni­ty on the patent front. But in a sep­a­rate case a fed­er­al judge re­cent­ly de­cid­ed to in­val­i­date the patents, leav­ing Al­ler­gan ex­posed to a painful hit.

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