Issue Date: January 19, 2009
Biotechnology Sector Continues To Retrench
More biopharmaceutical firms are cutting staff and reining in research spending (see page 32). EpiCept will discontinue its drug discovery operations and cut its workforce by 65% to focus on products in clinical development and the North American registration of Ceplene, which helps maintain remission of acute myelogenous leukemia. Facet Biotech will cut approximately 80 positions, bringing total headcount to about 200, as it narrows its focus to oncology drugs. And Array BioPharma plans to accelerate its partnership initiative and scale back its discovery research spending during the next two years. The firm has implemented a 10% workforce reduction, eliminating 40 jobs.
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