Issue Date: June 9, 2008
Biopharma Firms Cut Back On Staff
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.
- Chemical & Engineering News
- ISSN 0009-2347
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