Layoffs
Biogen’s $7.3 billion Reata acquisition and layoffs dominated this week’s news, while BMS and Roche reported second-quarter earnings and BioSpace looked at 12 late-stage neuro companies.
Illumina is laying off 79 workers in San Diego, and according to an internal email, more layoffs will be announced soon.
The layoffs are a result of Sumitomo’s decision announced in April to combine its seven subsidiaries into one company.
The latest round of layoffs comes just two months after Thermo Fisher announced plans to close three sites in San Diego, bringing the total to nearly 600 jobs cut in 2023.
The AI drug discovery company’s reorganization will include laying off around 180 employees and dropping its atopic dermatitis candidate BEN-2293 in an effort to save nearly $56 million.
Despite a disappointing showing in the Phase III MOVE-FA trial, PTC Therapeutics says it will move forward with regulatory talks for the Friedreich’s ataxia treatment. Meanwhile, the company is discontinuing several early-stage gene therapies and reducing its headcount.
Athenex announced it will lay off 79 employees in Buffalo and 44 employees in Clarence as a result of the Chapter 11 filing.
The biotechnology industry may not suffer as many losses as other industries due to generative AI, but the future of the job market is still uncertain for some.
The layoffs will go into effect on July 25, according to a Worker Adjustment and Retraining Act (WARN) notice filed in April.
The pharma company will lay off 170 employees and drop all candidates but one, as it seeks to rebuild its business.
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