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Business

... As Biotech Firms Scale Back Jobs

by Rick Mullin
December 22, 2008 | APPEARED IN VOLUME 86, ISSUE 51

Jazz Pharmaceuticals, in Palo Alto, Calif., will reduce its workforce by 24%, eliminating 71 jobs by year's end. Jazz markets a treatment for narcolepsy and a treatment for social anxiety and obsessive-compulsive disorder. It will continue to develop JZP-6, a candidate for fibromyalgia syndrome currently in Phase III trials. EntreMed, in Rockville, Md., will cut 60% of its staff, or 30 jobs, by the end of the year in order to concentrate development work on ENMD-2076, an Aurora kinase and angiogenesis inhibitor. Meanwhile, Panacos, a Watertown, Mass.-based developer of anti-infective products, is cutting its workforce from 33 employees to 15.

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