Evotec And Dyax Announce Job Cuts

Evotec has launched a restructuring program aimed at lowering sales and accounting costs by 10% and R&D costs by more than 30%. It seeks an overall cost reduction this year of $19 million compared with 2008. The company will eliminate 50 positions, bringing its workforce to about 370. Evotec says it will pursue partnerships similar to one with Roche on central nervous system disease therapies. Meanwhile, Dyax will eliminate 60 positions, bringing its headcount to around 100. The firm says it will focus on commercializing DX-88, a treatment for hereditary angioedema.