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Business

Biopharma Firms Cut Back On Staff

June 9, 2008 | APPEARED IN VOLUME 86, ISSUE 23

Pharmacopeia will reduce its workforce by approximately 15% to 150 in what the company calls an effort to focus resources on its clinical and late-stage drug discovery programs. Combined with other streamlining moves, the job cuts are expected to reduce operating expenditures by at least $10 million in 2009. Favrille, a biopharmaceutical firm focused on cancer and immune system therapies, will lay off 132 of its 144 employees following the disclosure that its non-Hodgkin's lymphoma therapy, Specifid, failed in Phase III trials. And Sunesis is reducing its workforce by about 60 people, or 60%, as it shifts its focus to developing its lead oncology product candidate, voreloxin.

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