Layoffs
Less than a month after appointing a new chief executive officer, Ziopharm Oncology announced a restructure that has resulted in over 50% of its workforce being axed.
There are roughly 750 sales representatives for Amarin at present, which the company intends to whittle down to 300 as it adopts a more digital approach to marketing.
As of September 11, slightly over 100 Alzheimer’s patients had received the drug, reported to be dramatically below Biogen’s internal projections and Wall Street expectations.
The company announced a Phase III cardiac drug failed to meet its primary endpoint and a significant shift in its R&D efforts that have resulted in the termination of 75% of its staff.
Sanofi is shuttering Principia’s laboratories in San Francisco after its Phase III PEGASUS trial of rilzabrutinib for pemphigus failed to meet primary or key secondary endpoints.
CureVac NV is downsizing its European mRNA production network due to decreased demand for vaccines after the first wave of vaccinations.
Acorda Therapeutics is reducing its staff count by 15% effective immediately as it struggles to bring operating costs down and hit expected revenue.
Ardelyx indicates the restructuring plan will save $17 million in annual cash compensation although there will be a restructuring charge of about $3.4 million.
This week’s announcement includes a step to the side for CMO Amit Rakhit, who will transition to the biotech’s advisory board.
Work-at-home arrangements created to respond to the COVID-19 pandemic have forced numerous companies in most sectors to reevaluate their work deals. This has also resulted in rethinking site locations and real estate needs. Here’s a look.
PRESS RELEASES
