Agios Pharmaceuticals is cutting the company’s staff numbers by 50 as part of plans to lay low on exploratory research efforts to focus on the success of late-stage initiatives.
Nektar Therapeutics outlined a strategic reorganization plan that includes cutting 70 percent of the company’s workforce, only weeks after Bristol Myers Squibb abandoned its clinical collaboration program with Nektar on bladder cancer and renal cell carcinoma.
Weeks after Imara announced plans to discontinue the development of tovinontrinein for sickle cell disease, beta-thalassemia and heart failure indications, the company culled 83 percent of its workforce.
Magenta Therapeutics is reducing the company’s workforce by 14 percent in a revised operating plan to prioritize research and development.
Pharmaceutical giant Novartis announced a global restructuring that will reportedly include cutting thousands of jobs.
As Novartis explores the possible sell-off of its Sandoz business, the company is undergoing a significant transformation that it says will save about $1 billion in operations costs by 2024.
Merck announced that the company will lay off 170 people from Cambridge, Massachusetts-based Acceleron Pharma, which was acquired during November 2021 for about $11.5 billion.
Gilead Sciences is letting go of 114 employees based out of the company’s Morris Plains, New Jersey facility following an underwhelming response to the results reaped so far from the $21 billion acquisition of Immunomedics in 2020, according to BioSpace.
Shares of Adaptive Biotechnologies climbed on March 9 after the company announced a reorganization of priorities to spur future growth, including a workforce reduction of approximately 12 percent.
Zymeworks provided a corporate update that included a string of clinical trial news. Additionally, 10 members of Zymeworks’ senior management team are leaving the clinical-stage biopharmaceutical company and the employee headcount will be cut by at least 25 percent by the end of 2022.