Issue Date: January 9, 2012
AMRI Cuts U.S. Discovery Ranks
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.
- Chemical & Engineering News
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