BioCryst And QLT Will Downsize | Chemical & Engineering News
Volume 90 Issue 51 | p. 19 | Concentrates
Issue Date: December 17, 2012

BioCryst And QLT Will Downsize

Department: Business
Keywords: biotech, restructuring, employment, biopharmaceuticals

BioCryst Pharmaceuticals will restructure and focus on advancing its hereditary angioedema (HAE) and antiviral programs. The North Carolina-based company will cut 50% of its workforce, or 38 positions. The restructuring comes after setbacks in its peramivir and BCX5191 antiviral programs and a delay in its BCX4161 HAE program. Meanwhile, QLT, an ocular drug firm based in Vancouver, British Columbia, will cut 42% of its workforce, or about 30 employees. It eliminated 146 positions in July. QLT sold its Visudyne macular degeneration drug to Valeant Pharmaceuticals for $113 million in September. QLT’s remaining 38 employees will work on clinical development of synthetic oral retinoids.

Chemical & Engineering News
ISSN 0009-2347
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