Layoffs
The company will undergo a reorganization that includes the termination of a number of sales representatives.
The agreement covers employees who agree to leave voluntarily.
Allergan will cut about 5 percent of its workforce, as the company looks to cut costs due to increased pipeline competition and loss of exclusivity on some products.
OvaScience provided a corporate update that includes initial data from a Phase I trial and news of extensive layoffs.
The company’s sales department will take the brunt of the layoffs, losing 235 jobs.
As part of a portfolio update, Altas Ventures noted that Raze Therapeutics, a biotech launched in 2014, has closed its doors.
Teva pulled the trigger on a comprehensive restructuring plan that includes the elimination of 25 percent of the company’s global workforce.
It seems those thousands of anticipated and dreaded pink slips at Teva will be handed out on Thursday.
PRESS RELEASES
