Layoffs
As part of its half-year 2020 financial report, the company announced significant restructuring that will include cutting 40% of its staff.
In addition to cutting staff, findings from the IW-3718-302 Phase III trial has caused the GI-focused healthcare company to discontinue development of IW-3718 and halt enrollment of its second Phase III trial, IW-3718-301.
UNITY Biotechnology launched a restructuring program to focus on cellular senescence in ophthalmology and neurology. As part of the plan, it is decreasing its workforce by about 30% to optimize capital.
In an 8-K filing with the U.S. Securities and Exchange Commission, Intercept Pharmaceuticals said it will eliminate approximately 170 employees as part of an effort to streamline the company’s operations and reduce operating expenses.
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.
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