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.
Pharmaceutical giant Novartis announced a global restructuring that will reportedly include cutting thousands of jobs.
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.
Although the U.S. Bankruptcy Court approved the OxyContin maker’s reorganization plan that freed the Sacklers from greater financial accountability and shielded them from additional lawsuits, the Department of Justice moved to block the Purdue Pharma bankruptcy deal.
Purdue Pharma LP said on Tuesday that creditors voted in favor of the company’s reorganization plan that would provide billions of dollars to the governments that sued the OxyContin maker for its role in the U.S. opioid crisis.
UK-based Fishawack Health reorganized business operations as a leading global commercialization partner for the life sciences industry in response to client demand for a more agile, integrated service offering, which is heightened by the pandemic-fueled shifts in the healthcare landscape.
In a move aimed at boosting efficiency in drug development, Sangamo Therapeutics split the company’s research and development teams into two separate units.
Lundbeck is making changes to the global pharma company’s R&D initiative, which could lead to a reduction of up to 160 positions.