Our ability to maintain attractive pricing and reimbursement levels for our products, in light of increasing competition, including from generic products, and pressure from government and other payers to decrease the costs associated with healthcare, including the potential impact of the Inflation Reduction Act of 2022 (IRA) on our business and President Trump’s most favored nation pricing initiative.
All entries for: Cardiology
September 19, 2025
Bristol Myers Squibb
Layoffs
Lawrenceville, NJ
10,001-50,000 employees
Bristol Myers Squibb is letting go of 282 employees in Lawrenceville, New Jersey, with effective dates in December 2025 and February and March of next year.
Disease Area: Cardiology, Hematology, Immune Diseases, Multiple, Oncology
Drug Type: Biologic, Small Molecule
September 12, 2025
Merck
Layoffs
Rahway, NJ
10,001-50,000 employees
Merck will terminate research and discovery efforts in the U.K., a move that includes pulling out of the Francis Crick Institute and the London BioScience Innovation Center, which will leave 125 employees jobless. The pharma giant is also pulling the plug on a roughly $1.3 billion construction project that was expected to open 120 posts for researchers and technicians. A company spokesperson said the moves reflect “the challenges of the U.K. not making meaningful progress towards addressing the lack of investment in the life science industry.” Successive U.K. governments, the spokesperson continued, have also demonstrated an “overall undervaluation of innovative medicines and vaccines.”
Disease Area: Antiviral, Cardiology, Immune Diseases, Multiple, Neurological Diseases, Oncology
Drug Type: Biologic, Small Molecule
August 13, 2025
Tourmaline Bio Inc.
Neutral Outlook
New York, New York
1-50 employees
…the Inflation Reduction Act of 2022 (the “IRA”) was signed into law, which among other things, (1) directs the HHS, to negotiate the price of certain single-source biologics that have been on the market for at least 11 years covered under Medicare (the “Medicare Drug Price Negotiation Program”) and (2) imposes rebates under Medicare Part B and Medicare Part D to penalize price increases that outpace inflation
Disease Area: Cardiology
Drug Type: Biologic
August 12, 2025
Merck
Layoffs
Rahway, NJ
10,001-50,000 employees
Merck will let go of 58 people at its Rahway, New Jersey, headquarters effective Nov. 14. The layoffs come after Merck confirmed it will execute $3 billion in cost cuts to support the launches of more than 20 products nearing the market. The move could affect roughly 6,000 employees during the multi-year move. Merck is paring back its workforce to help support the launches of 20 products nearing the market, according to a July 29 announcement. The cuts include eliminating administrative, sales and research and development roles.
Disease Area: Antiviral, Cardiology, Immune Diseases, Multiple, Neurological Diseases, Oncology
Drug Type: Biologic, Small Molecule
August 7, 2025
Bayer
Layoffs
Whippany, NJ
50,001+ employees
Workforce cuts continue at Bayer, with CEO Bill Anderson announcing on the company’s second-quarter earnings call on Aug. 6 that it expects more layoffs to come. These would follow the 2,000 employees it said it was letting go during first-quarter earnings and around 11,000 total since Bayer initiated a sweeping reorganization initiative in July 2023.
Disease Area: Cardiology, Hematology, Multiple, Oncology
Drug Type: Biologic, Small Molecule
August 4, 2025
Merck
Layoffs
Rahway, NJ
10,001-50,000 employees
Merck projected it could let go of about 6,000 employees as part of a multiyear process, affecting around 8% of its global workforce, as part of its recently announced cost-cutting initiative.
Disease Area: Antiviral, Cardiology, Immune Diseases, Multiple, Neurological Diseases, Oncology
Drug Type: Biologic, Small Molecule
July 30, 2025
Merck
Layoffs
Rahway, NJ
10,001-50,000 employees
During the company’s second quarter earnings report, Merck CEO Rob Davis said that the company was undergoing a $3 billion cut in spending, spread across administrative, sales and research and development roles. The savings amount to about $1.7 billion annually, hoping to hit the $3 billion mark by 2027.
Disease Area: Antiviral, Cardiology, Immune Diseases, Multiple, Neurological Diseases, Oncology
Drug Type: Biologic, Small Molecule
July 28, 2025
Rocket Pharmaceuticals
Layoffs
Cranbury, NJ
201-500 employees
Rocket Pharmaceuticals is laying off 30% of its workforce in a strategic realignment initiative that also involves focusing resources on its late-stage heart disease programs, the company announced July 24. A total of 80 employees at Rocket’s Cranbury, New Jersey, site will be affected, according to a Workers Adjustment and Retraining Notification (WARN) Act notice. The layoffs will start Oct. 23 and continue through the end of the year, as per the WARN posting, and will allow Rocket to reduce its 12-month cash burn by almost 25%.
Disease Area: Cardiology, Immune Diseases, Multiple, Rare Diseases
Drug Type: Biologic
July 25, 2025
Genentech
Layoffs
San Francisco, CA
10,001-50,000 employees
Genentech is letting go of 87 employees at its South San Francisco headquarters, the second round of layoffs at the Roche subsidiary this year.
Disease Area: Cardiology, Hematology, Immune Diseases, Multiple, Neurological Diseases, Oncology
Drug Type: Biologic, Small Molecule