Following a disappointing 2017 that included an agreement to pay $40 million to resolve criminal charges against its subsidiary Aegerion, Canada-based Novelion Therapeutics will slash an unknown number of jobs as it initiates “significant cost reduction plans.”
Paris, France-based Sanofi announced major restructuring involving layoffs. About 400 jobs cut will be in the U.S.
Cuts implemented by Israel-based Teva Pharmaceutical hit the shores of the United States. The company is laying off 208 people in the Philadelphia area.
Almost one year after filing a New Drug Application for an ADHD drug and less than one year after announcing it secured $200 million in financing, Ironshore Pharmaceuticals closed its doors.
OvaScience is restructuring to cut costs. As part of that process, the company is laying off about half of its staff.
Privately held Dart NeuroScience and its quest to develop therapies intended to improve cognitive vitality will close its doors on Feb. 9, 2018, due to poor progress on the San Diego-based company’s therapeutic goals and little return on hundreds of millions of dollars in research and development.
Share prices for Protalix Biotherapeutics were up more than 3 percent this morning after the company reported positive results from its Phase I/II open label extension trial of pegunigalsidase alfa, PRX-102, for the treatment of Fabry disease. Despite that positive news on its pipeline, Protalix is reportedly set to terminate 50 employees, which amounts to about 20 percent of its workforce.
Teva Pharmaceutical Industries announced a new organization and leadership structure aimed to achieve better commercial focus and drive value creation.
Ardelyx decided to shutter development of RDX7675 – an experimental medicine for hyperkalemia – including the onset-of-action trial and Phase III studies.
CRO giant Pharmaceutical Product Development LLC terminated a number of employees in its human resources department, but has provided few details about the job cuts, according to reports.
X-Spine Systems, a division of Xtant Medical Systems, is shutting down a facility in Ohio and terminating 54 people between December and February 2018.
As part of a new sales team structure, Merck plans to cut 1,800 sales jobs. At the same time, the company expects to add 960 jobs to a new sales force focused on chronic care.
Switzerland-based Novartis is closing the company’s generic-drug manufacturing facility in Broomfield, Colo., which will cut 450 jobs over two years.
An investor decision to renege on acquiring more than $3 million worth of stock has created a financial catastrophe for Biostage Inc. To maintain operations, the company is terminating 17 employees, about 71 percent of its workforce.
Two months after slashing 28 percent of its workforce as part of a strategic review, Ardelyx Inc. announced positive Phase III results for tenapanor, its irritable bowel syndrome with constipation (IBS-C).
Trevena Inc. is banking its future on possible approval of troubled pain medication Olinvo eight months after Phase III data raised some questions over the drug’s safety profile.
Eli Lilly’s drug to treat non-small cell lung cancer failed to meet the main goal of improving overall survival in patients in a late-stage trial.
Juniper Pharmaceuticals, after a strategic evaluation, decided to prioritize its resources on the company’s core businesses of Crinone progesterone gel and Juniper Pharma Services. As a result of the changes, Juniper plans to lay off 8 percent of its staff, mostly in the new product research-and-development areas.
Alexion Pharmaceuticals announced plans to cut costs by closing several sites, moving its headquarters and laying off 20 percent of staff. The job cuts follow 210 layoffs in March 2017.
Cytori Therapeutics is terminating half of its employees a little more than one month after the company’s late-stage cell therapy to treat scleroderma failed to achieve statistical significance for both the primary and secondary trial endpoints.