AMRI Cuts U.S. Discovery Ranks | Chemical & Engineering News
Volume 90 Issue 2 | p. 21 | Concentrates
Issue Date: January 9, 2012

AMRI Cuts U.S. Discovery Ranks

Department: Business
Keywords: contract research, CRO, drug discovery

The contract research firm Albany Molecular Research Inc. is making cuts in its U.S. drug discovery operations that it expects will save up to $11 million per year. Most of the cuts stem from AMRI’s recent decision to end internal R&D. The rest are in response to reduced U.S. outsourcing by both big pharma and biotech customers. More than 25 drug-discovery positions are involved, says Chief Financial Officer Mark T. Frost, but most of the affected employees are moving to other parts of AMRI, including offshore drug discovery labs, manufacturing, and the firm’s new medicinal chemistry alliance with Eli Lilly & Co.

 
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