The new CEO at trou­bled AM­AG be­gins his bat­tle against an ar­ray of threats by ax­ing staff and slash­ing costs

Scott My­ers stepped in­to his new job as CEO of trou­bled AM­AG 2 weeks ago, and he has his work cut out for him.

In their Q1 call with an­a­lysts on Mon­day, My­ers out­lined a plan to slash costs, lay­ing off 140 staffers — 30% of the to­tal — as Covid-19 bites in­to its sales op­er­a­tions and de­rails clin­i­cal tri­als. The goal is to cut costs by $100 mil­lion. And he still has to find out whether the FDA will force the com­pa­ny to pull Mak­e­na off the mar­ket af­ter a ma­jor­i­ty of the mem­bers on an FDA ad­vi­so­ry com­mit­tee pushed for that in the wake of their failed con­fir­ma­to­ry study.

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