Issue Date: June 20, 2011
Array Biopharms To Restructure
Array BioPharma is restructuring to reduce its spending rate and focus on its key clinical development programs, which are largely in the cancer area. The firm will reduce its workforce by about 20%, or 70 employees, primarily in discovery research and support jobs. It will still have a small discovery research group to handle late-stage projects and its partnerships with Amgen, Celgene, and Genentech.
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