Issue Date: August 11, 2008
Pharmacopeia And Acadia Cut Workforce
Two drug discovery and development companies have revealed restructurings and workforce reductions timed to second-quarter earnings announcements. Acadia Pharmaceuticals will focus on its Phase III trials of pimavanserin for Parkinson's disease psychosis and two compounds funded by partner Allergan. It plans to reduce its workforce by 50%, to 65 employees. Pharmacopeia will terminate 40% of its workforce, in addition to a 15% reduction in May 2008. The company, which had 169 employees at the end of 2007, plans to begin Phase II trials on PS433540, a small-molecule drug for diabetic nephropathy.
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