One day after BridgeBio Pharma struck a nearly $1 billion oncology pact with Bristol Myers Squibb, the California-based company announced plans to sell a priority review voucher received in February.
Silverback Therapeutics is halting the company’s clinical oncology programs and letting go of about 27% of its workforce as part of a restructuring initiative that would leave Silverback with more cash reserves.
After months of speculation about looming layoffs, Biogen is handing out pink slips in order to save about $500 million.
Biogen is selling the company’s nearly 50 percent stake in South Korea-based Samsung Bioepis for $2.3 billion.
Massive layoffs could be headed to Biogen due to the disappointing rollout of the company’s Alzheimer’s drug Aduhelm that generated only a few million dollars in revenue over the past two quarters.
According to a California WARN notice, Sanofi is shuttering Principia Biopharma’s laboratories in San Francisco and laying off about three dozen employees after the Phase III PEGASUS trial failure of rilzabrutinib for pemphigus.
Ironwood Pharmaceuticals initiated an internal organizational restructuring that includes cutting up to 100 full-time employees from payroll following a review of unblinded data from the company’s Phase III trials for IW-3718-302, which show that the drug failed to reduce the severity of heartburn in patients with refractory gastroesophageal reflux disease (GERD).
23andMe announced that the company was laying off about 100 employees as sales were down, reflecting a shrinking market for DNA test kits to consumers.
Amgen filed a Worker Adjustment and Retraining in California with plans to cut 172 jobs at the company’s headquarters and U.S. field operations effective December 31, 2019.
Amgen filed a Worker Adjustment and Retraining (WARN) filing with the Commonwealth of Massachusetts, indicating the company planned to lay off 149 employees effective December 31, 2019.