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Biotech Firm Cangene Corporation (CC:CNJ) Cuts 120 Jobs


1/6/2012 7:32:27 AM

Winnipeg-based Cangene Corp. is cutting 120 jobs, or about 17 per cent of its total workforce, as the company adapts to shrinking demand for drugs stockpiled to combat possible biological warfare or terrorism. A spokesman for the company, one of Canada's oldest and biggest biotech firms, said Thursday that most of the job cuts will be in Winnipeg where Cangene has its head office and other operations. There'll be minimal impact on a bottle-filling plant in Baltimore, Md., which mainly does contract work for other companies. A few jobs will be lost at a small office in Toronto that employs about 10 people.

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