PARSIPPANY, N.J., Oct. 16, 2015 /PRNewswire/ — Daiichi Sankyo, Inc. (“the Company”) announced today that it will reorganize its U.S. Commercial organization as it begins to transition from a maturing primary care product portfolio to a differentiated specialty portfolio that will include areas such as cardiovascular, pain management and oncology.  “As we face the loss […]

BOSTON – Verastem, Inc. (VSTM) will cut 50 percent of its workforce, laying off approximately 20 employees, following the failure of its Phase II clinical trial of VS-6063 in patients with lung cancer, the company announced Thursday afternoon. The company announced in September the drug, an oral compound that targets cancer stem cells by inhibiting […]

Xenoport Inc said it would stop developing on its own a drug that showed high rates of side effects in a study and instead focus on its treatment for restless leg syndrome. The company also said on Thursday that Ronald Barrett, its chief executive since 2001, has stepped down and will be succeeded by Chief […]

Lawrenceville, N.J.-based Celsion Corporation (CLSN) announced today that it completed the integration of its June 2014 acquisition of EGEN, Inc., and as part of the consolidation, had cut 15 to 20 percent of its staff and annual operational costs.   In June 2014, Celsion, which focuses on cancer drug development, acquired Huntsville, Ala.-based EGEN, Inc., […]

NEW YORK – Pfizer Inc.[2] (PFE[3]) is looking to terminate a number of its Korea-based employees as a means to increase efficiency in its management positions, Streetwise reported[4] this morning. The possible terminations come at a time when the small Korean branch has consistently shown strong growth despite a slowdown elsewhere, Streetwise said. Pfizer has […]

THE HAGUE, Netherlands (AP) — Dutch nutritional supplements and chemicals company Royal DSM NV says it is laying off between 900 and 1,100 staff worldwide as part of a reorganization of its businesses. The company announced the job cuts Tuesday, saying the move would cut costs by 125-150 million euros ($144-173 million) by the end […]

Approximately 1,000 jobs will be eliminated at H. Lundbeck A/S (LUN.CO) as the psychiatric drugmaker faces increased competition from generic medications, the Danish company announced this morning. Kåre Schultz, Lundbeck’s new chief executive officer, said the company’s new restructuring program will improve its fiscal position so it can “invest in future profitable growth initiatives.” Schultz, […]

Merck & Co. (MRK) has its eyes set on eliminating another 2,500 jobs as part of its ongoing restructuring plan announced in 2013, according to a recent filing with the U.S. Securities and Exchange Commission.   According to the filing, the company said “approximately 2,585 position eliminations remain pending under this program as of June […]

Boston Scientific (NYSE:BSX) and Abbott (NYSE:ABT) are making cuts from their workforce, according to a California Warn notice report. Boston Scientific is slated to cut 455 employees as it closes 2 facilities in the Fremont and San Jose areas. The company said it is moving the operations to a manufacturing facility in Costa Rica. Help […]

Pharmaceutical giant Merck & Co. (MRK) has slashed more than 85 percent of the positions targeted for elimination under its 2013 restructuring plan, Gen News reported this morning.   Merck has eliminated “approximately 7,290 positions” since the restructuring plan was announced, the company said in its 10-Qc filing. The positions include full-time employees, independent contractors […]