GlaxoSmithKline exceeded expectations for the company’s first-quarter 2022 sales and earnings forecasts. This was largely driven by GSK’s sales of Xevudy, an antibody treatment against COVID-19 it developed with Vir Biotechnology, and the company’s Shingrix vaccine against shingles.
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.
More and more pharmaceutical companies are joining in the effort to put economic pressure on Russia by suspending some or all operations within that country following the invasion of Ukraine.
Otonomy is cutting jobs and slashing operations in order to stay in business.