Novacea, Inc. Slashing Work Force In Wake Of Failed Drug

NEW YORK (AP) -- Biotechnology company Novacea Inc. said Monday it will slash its work force, one month after partner Schering-Plough Corp. pulled out of a development agreement for the failed prostate cancer drug candidate Asentar. The company said it expects the job cut process to last about two months, reducing the work force to 15 employees from about 37 currently.

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