As part of Johnson & Johnson's restructuring of its pharmaceutical division, the New Brunswick-based health care giant plans to shut down its cardiovascular and metabolic drug unit.
According to Endpoints, a biopharma trade publication, the closure will mainly impact the company's commercialized cardiovascular products rather than research and development.
Endpoints reported the move primarily affects employees in sales, marketing and medical affairs and that they were notified this week. It is unclear how many workers will be impacted.
Since rebranding its pharmaceutical business from Janssen to Johnson & Johnson Innovative Medicine a year ago, the company narrowed its focus to three therapeutic areas: oncology, immunology and neuroscience products. As a result, J&J wound down its infectious disease and vaccine operations last fall.
In a statement to NJBIZ, a J&J spokesperson said, "Johnson & Johnson is tackling the world's toughest health challenges through science and technology-driven innovation. To continue to meet the needs of patients around the world today and for years to come, we must adapt and evolve our businesses in the midst of a complex and rapidly changing external environment. Guided by Our Credo, we will support employees who are affected by these changes, helping them explore new options within the Company and providing access to career services and related support."
They also said, "Johnson & Johnson remains committed to cardiovascular disease and advancing our groundbreaking science in this space. We will continue to provide patients with access to XARELTO and continue to advance milvexian - our investigational oral Factor XIa inhibitor in partnership with Bristol Myers Squibb. Our Phase 3 LIBREXIA program remains the most comprehensive and unrivaled Factor XIa program to date, and we are progressing well on our three global trials: Librexia AF, Librexia ACS and Librexia STROKE."