The firm said it has decided to reduce its sale force and focus its efforts on two key products: its vitamin B12 nasal spray, Nascobal; and appetite loss drug, Megace ES.
News of the job cuts follows just a month after Par Pharmaceutical announced its plans to buy Chennai, India-headquartered non-branded drug manufacturer Edict Pharmaceuticals for $37.6m.
However, this does not mean Par is opting to focus solely on its generic business according to CEO Patrick LePore who said: "We remain fully committed to the branded business and believe it is a valuable platform for future growth."