Allergan plans to cut over 1,000 jobs as generic version of eye treatment nears market

Allergan said Wednesday it plans to cut more than 1,000 jobs as it braces for one of its bestselling drugs to face generic competition.

Chief Executive Brent Saunders said in November that the company was preparing as though a generic version of Restasis, a dry-eye treatment, would launch in the beginning of the year. That would require cost cuts, Saunders said at the time.

http://www.latimes.com/business/la-fi-allergan-layoffs-20180103-story.html