Layoffs
Two days after Boston Scientific laid off 85 employees at a Burlington, Mass. manufacturing site, the company forked over up to $160 million to acquire California stent maker Veniti, Inc. The deal marks the third acquisition for Boston Scientific in two months.
Ironwood Pharmaceuticals, located in Cambridge, Massachusetts, released its second-quarter financial report and updated its business activities. Key among the announcements was the termination of a license deal with AstraZeneca for its lesinurad franchise.
The U.S. Food and Drug Administration (FDA) issued a Complete Response Letter—basically a rejection—to Austin, Texas-based Pain Therapeutics for Remoxy ER for pain.
As Britain’s “Brexit” from the European Union moves closer and closer, the European Medicines Agency (EMA), the equivalent to the U.S. Food and Drug Administration (FDA), temporary halted some of its activities in preparation.
NewLink Genetics has announced, with the company restructuring and layoffs, they are refocusing on indoximod.
Achaogen, headquartered in South San Francisco, announced that as part of its strategic update and corporate restructuring, it will eliminate 80 positions, or about 28 percent of staff.
The Novartis Institutes for BioMedical Research (NIBR) is ending its early-stage anti-infectives research programs located in Emeryville, California. As a result, the company expects to lay off about 140 employees.
Changes continue coming to Vivek Ramaswamy’s Roivant Sciences following a June shakeup that saw a 10 percent cut in employment and the restructuring of its business operations.
Shares of Regulus Therapeutics saw something of a slight rally on Monday following a post-Independence Day corporate restructuring announcement that included the termination of 60 percent of its workforce, which caused a massive stock plummet.
Roivant Sciences, Vivek Ramaswamy’s umbrella company for his family of “Vants,” announced major restructuring that includes a cut of 10 percent of staff and reshuffling of leadership.
PRESS RELEASES
