Affymax Cuts Jobs After Drug Setback

Affymax is reducing its workforce by 75%, or 230 employees, after voluntarily recalling its only product, Omontys, in late February. The cutbacks include commercial and medical affairs staff as well as officers and other employees. Remaining employees at the Palo Alto, Calif.-based company will work with its Japanese partner Takeda Pharmaceutical to investigate the cause of hypersensitivity reactions and a few fatalities among dialysis patients who received the anemia treatment. The company is looking at ways to restructure, sell, or wind down its operations, including declaring bankruptcy.