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.