Despite winning regulatory approval for a copycat version of Copaxone earlier in 2018, Cambridge, Mass.-based Momenta Pharmaceuticals completed a strategic review that includes slashing staff by 50 percent as the company focuses resources on two biosimilar candidates in the pipeline.
Sanofi will continue to implement cost savings after having reached a 1.5 billion euros ($1.75 billion) cost reduction target a year ahead of expectations, while several of the company’s key drugs are selling well.
As part of an earlier announced restructuring program, UK-based GlaxoSmithKline is laying off 650 staffers in the U.S.
Regulus Therapeutics announced a corporate restructuring that included the termination of 60 percent of the company’s workforce, which caused a massive stock plummet.
According to Reuters UK, Japan’s Takeda Pharmaceutical made an official bid to acquire London’s Shire for about $60 billion, which was rejected.
Paris-based Sanofi agreed to sell the company’s generics division Zentiva to the private equity firm Advent International for 1.9 billion euros ($2.4 billion). The deal is expected to wrap by year-end 2018.
Scott Smith, Celgene’s chief operating officer, abruptly resigned as his decision to leave appears to be prompted by a restructuring of the company’s executive team.
Teva Pharmaceutical Industries said its 2018 results would be weaker than expected and that the company might encounter delays for an important new migraine drug, pushing the drugmaker’s shares down more than 9 percent.
Boston-based Intarcia Therapeutics undertook a restructuring that includes the termination of up to 60 employees and the closing of two programs.
Teva Pharmaceutical Industries’ board of directors agreed to take a 50 percent pay cut.