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Less than six months after cutting 20% of its employees, Vedanta Biosciences has again laid off staff. According to one affected staffer, half of the Cambridge, Massachusetts–based biotech’s workforce is being cut while most of the rest are furloughed.
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It doesn’t matter how many times you have traversed Union Square; no one knows which way is north, or where The Westin is in relation to the Ritz Carlton. A Verizon outage brought that into focus on Wednesday.
Primarily known as an immunology and neuroscience company, AbbVie wanted to put the biopharma world on notice during its J.P. Morgan presentation: its oncology portfolio is underappreciated. This week, the Illinois-based company dove into the sizzling PD-1/VEGF space with a licensing deal with China-based RemeGen.
Buying vaccine biotech Dynavax was an easy choice for Sanofi despite antivaccine moves by the Trump administration.
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Paul Moore took over as CSO at Zymeworks in July at a pivotal time for the company. He spoke with BioSpace about his ambitions.
New chief executive officers take the reins of companies, while chief financial officers step into their roles overseeing the finances of respective businesses and more.
Horizon Therapeutics, Eli Lilly, Gilead Sciences and more hit financial road bumps or missed the mark entirely in their Q2 earnings reports.
The big hit has been for its insulin Lispro products. Since January 1, Lispro and Humalog have dropped 26% to $447.1 million in the first quarter.
In its Q2 earnings report, Amgen revealed the demise of two HLE BiTE molecules. Also on Thursday, the company announced it is acquiring ChemoCentryx for $4 billion.
The real positive drivers were Eylea and Dupixent. Eylea climbed 14% to $1.62 billion, while Dupixent sales jumped almost 40% to $2.09 billion for the second quarter.
There are many more shots on cancer this week as funding went to oncology-focused companies such as GluBio and Shanghai-based OriCell.
The layoffs trend in the life sciences industry is continuing into the final months of 2022. See inside for details on which companies are reducing staff to increase cash flow.
Roche signed a big $6 billion-plus collaboration deal with Poseida on blood cancers while its partner, AC Immune, parsed failed data on an Alzheimer’s drug to suggest a positive spin.
While Moderna’s sole marketable program is its COVID-19 vaccine, CEO Stéphane Bancel said the company is “actively working to prepare...new product launches to help patients and drive growth.”