Kodak, the largest pharmaceutical company in the world, is laying off some of its employees in an effort to keep the American market alive and profitable.
The company announced in January that it was reducing the number of full-time jobs in its medical devices business by around 5,000 jobs over the next five years.
The company had already eliminated around 2,000 employees, leaving it with about 6,000 full-timers.
The reduction comes as Kodak and its pharmaceutical division, which produces medical devices such as the EpiPen, have been struggling with a high price tag for the device.
The EpiPens were introduced in the US in 2003 and have since become the fastest-selling prescription drug in history.
While Kodak has been forced to make changes in its pharmaceuticals business in order to keep pace with the Epipens, its move to reduce its workforce is part of a broader trend.
Since January, more than 70% of Kodaks Pharmaceuticals business has been affected by the introduction of a new, $8,000-a-month Epi-Pen in the United States.
“It’s a tough one,” said a Kodak spokesperson to the Los Angeles Times.
“Kodak is committed to innovation and the innovation we are bringing to the market will continue to be driven by the products and processes we have developed.”
The company says that the move is expected to save the company $1.8 billion in healthcare costs and is expected in its first quarter of fiscal 2018.
The move is part on of a larger restructuring of the company’s pharmaceutical business that has been underway for years.
Kodack said in January it was planning to trim the number at its pharmaceutical operations by about 5,500 jobs.
The layoffs will result in around 2.5 million fewer full- and part-time positions across the company, according to the company.
While the company said in February that it would cut its workforce by 3,000 by 2020, that number is now up to 5,300, according of a company statement to Business Insider.