Layoffs
Selecta Biosciences announced that as part of restructuring efforts it is cutting its current workforce by 36 percent. The company believes that the cuts, along with a reprioritization of its pipeline, will decrease its yearly cash burn by 19 percent.
Over the past decade, BMS has been no stranger to flexing its M&A muscle. The company made numerous focused-acquisitions that have positioned itself as a leader in oncology. BMS CEO Giovanni Caforio noted that the massive deal for Celgene is another piece to that puzzle.
Traditionally, Genentech has tended to operate with less hands-on scrutiny from the business bean counters at its Swiss Roche headquarters. These more recent job cuts suggest those days may be over.
As we look back over the year, we noticed some stories just grabbed readers more than others. Here’s a look at the top 10 stories of the year, including job cuts, best-selling drugs, up-and-coming companies,scandals, clinical trials, and more.
More pharma workers in France are receiving coal in their stockings this year after Germany-based Boehringer Ingelheim announced plans to cut about 300 jobs in that country as part of a reorganization of its operations in France.
Some French employees of drug giant Sanofi will receive an unwanted Christmas present this year – pink slips. The company will lay off 670 employees in France on what has been reported as a “voluntary basis.”
Georgia-based MiMedx has been dealing with continued fallout from questions over its earnings and sales practices.
Bayer will cut 12,000 jobs as it prepares an overhaul of its business that includes exiting its animal health business as it deals with the fallout from its $63 billion acquisition of Monsanto. Additionally, the company said it will sell its 60 percent stake in Germany-based site services provider Currenta.
Abeona did not specify the type of misconduct that Carsten Thiel engaged in, but it was serious enough to warrant termination.
Boston Scientific’s restructuring will take place over a three-year period. The company expects it overall employee base to remain relatively unchanged when it is complete, although some losses are expected.
PRESS RELEASES
