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Business
NPS launches cost-cutting plan
June 19, 2006
| A version of this story appeared in
Volume 84, Issue 25
NPS Pharmaceuticals is cutting its staff by 53% as part of a restructuring intended to reduce spending and refocus R&D. The New Jersey-based firm, which has about 490 employees, is also dropping development of its lead product, Preos, a recombinant human parathyroid hormone being developed for osteoporosis. FDA raised questions about the drug earlier this year. NPS says it will focus on teduglutide, a peptide drug that targets gastrointestinal disorders.
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