Layoffs
As part of a portfolio update, Altas Ventures noted that Raze Therapeutics, a biotech launched in 2014, has closed its doors.
Teva pulled the trigger on a comprehensive restructuring plan that includes the elimination of 25 percent of the company’s global workforce.
It seems those thousands of anticipated and dreaded pink slips at Teva will be handed out on Thursday.
Dart will close its doors on Feb. 9 due to poor progress on its therapeutic goals and little return on hundreds of millions of dollars in R&D.
Layoffs are expected to begin in February, according to reports.
Teva may be passing out more pink slips as the company looks to cut up to 10,000 jobs in order to save up to $2B in costs over the next two years.
Avanir Pharmaceuticals will lay off 11 percent of its workforce by the end of January 2018 as part of a company restructuring.
The first round of Indiana employees are expected to be let go January 31 and continue through the end of September.
Novartis told Kent Online that the reason the company is looking at closing the facility is the rapid advancements in point of care diagnostic devices.
PRESS RELEASES
