Layoffs

Genentech is eliminating 474 employees, mostly based out of its South San Francisco facilities. The job cuts are expected to be permanent.

JLL published its JLL 2020 U.S. Life Sciences Outlook, which ranks and tracks the progress of life sciences markets, particularly in how they relate to real estate development.

DBV Technologies, located just outside Paris, announced it is cutting jobs while it awaits news from the U.S. Food and Drug Administration (FDA) about its application for Viaskin Peanut.

According to a brief report by Reuters, the drug company plans to hold meetings with staff representatives tomorrow and Monday of next week to describe a restructuring plan, according to four sources familiar with the matter.

Lundbeck stated that it is optimizing its research and development organization to strengthen and advance its pipeline.

The restructuring is related to the planned divestiture of Intrarosa (prasterone) and Vyleesi (bremelanotide injection) and the impact of the COVID-19 pandemic.

The culling of one-fourth of its employees is expected to save the company approximately $125 million through the end of 2021.

While the biopharmaceutical industry is working frantically to develop the tests, vaccines and therapeutics to combat COVID-19, the people doing the work are pushing their fears to one side. But, when asked, they admit to concerns. Not suprisingly, they mirror the fears shared by much of the world.

Following a setback with its experimental major depressive disorder drug in December, Sage Therapeutics will initiate a corporate restructuring that includes halving its employee headcount in order to focus its resources on the development of its pipeline.

The COVID-19 pandemic isn’t likely to end soon. Instead, the crisis stage may continue for weeks or even months before business regains some semblance of normality. The good news is that while biotech companies have slowed their hiring initiatives, layoffs remain unlikely at this point. Instead, biotech companies are enhancing flexibility on nearly every front.