Takeda Pharmaceutical, Massachusetts’ largest life sciences employer, is preparing to lay off 247 employees in Cambridge, with cuts beginning as soon as July 1, 2026 and some possibly extending into 2027.
The article is posted here: https://finance.yahoo.com/sectors/healthcare/articles/largest-mass-biotech-employer-axing-181441933.html
The layoffs are part of Takeda’s broader Transformation Program, approved in March, which aims to save about $1.2 billion annually by 2028. Globally, Takeda plans to cut around 4,500 jobs by March 2027, which is less than 10% of its workforce. The Massachusetts layoffs are included in that global figure, not an additional round.
A major driver is the sharp decline of VYVANSE, Takeda’s ADHD dr-g, after it lost U.S. patent protection in August 2023. U.S. sales reportedly fell 63% last fiscal year as generics entered the market.
Takeda said many affected Massachusetts employees have already found other roles inside the company, and it has about 2,100 open positions globally, including in Massachusetts. The company says it is prioritizing internal candidates.
The article also notes that Takeda recently lost an antitrust case involving AMITIZA, but the company said that verdict is not connected to the layoffs.
Takeda is now relying on several experimental dr-gs, including oveporexton, rusfertide, and zasocitinib, to help replace lost VYVANSE revenue.