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Business

Troubled biotechs will cut jobs

by Michael McCoy
April 10, 2017 | A version of this story appeared in Volume 95, Issue 15
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Acorda Therapeutics will reduce its staff by 20%, or about 120 jobs, after a decision by a U.S. district court to invalidate patents related to one of its main products, the multiple sclerosis treatment Ampyra. Acorda says it will focus on its two late-stage developmental drugs for Parkinson’s disease, CVT-301 and tozadenant. Meanwhile, Aviragen Therapeutics will reduce its staff by 25%, or about six employees, after clinical trial setbacks for two drugs. Aviragen says it will explore a sale or merger of the company.

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