box, layoffs

Spero Therapeutics is laying off approximately 75 percent of the company’s workforce as part of a restructuring operation in light of the U.S. Food and Drug Administration’s expected rejection of Spero’s New Drug Application (NDA) for bacterial diseases. 

Following the ongoing trend in the pharmaceutical industry, bluebird bio orchestrated a restructuring that includes saving financially and cutting staff. The restructuring is designed to prolong the company’s budget as bluebird bio awaits decisions from the U.S. Food and Drug Administration (FDA).

Pfizer building

Sparked by more than two years of virtual meetings due to the COVID-19 pandemic, Pfizer is cutting the company’s sales staff as more and more physicians’ offices and healthcare facilities prefer fewer face-to-face interactions with vendors. That preference for a virtual experience is expected to remain even after the pandemic wanes.

Deciphera Pharmaceuticals announced a restructuring with the intention of prioritizing clinical development of specific programs and streamlining the Waltham, Mass.-based company’s commercial operations. In addition to cutting one of its programs, Deciphera plans to reduce about 140 positions.

Amarin announced a new marketing strategy for the company’s Vascepa drug in the United States, starting with reducing the Irish-American biopharmaceutical firm’s sales rep numbers by more than 50 percent.

Novartis is closing a manufacturing facility in Longmont, Colorado acquired by company subsidiary AveXis during 2019 that has provided additional production capacity for Zolgensma, a gene therapy treatment for spinal muscular atrophy.

Shares of Endo International were up after announcing positive earnings and a new restructuring plan that is expected to “optimize” the company’s operations through the elimination of several manufacturing sites and the employees who work there.

Shares of Intercept Pharmaceuticals fell more than 10 percent following a decision by the company’s board of directors to cut 25 percent of headcount.

Teva Pharmaceuticals Inc. made more cuts in the United States, this time to real estate holdings. To save money, the company will close its offices in Washington, D.C. and New York City. No jobs were reported to be lost from the cuts.

Pfizer released an update of the company’s pipeline, including eight different discontinued projects in the field of neuroscience.