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Pharmaceuticals
Two Biotech Firms To Shift Focus, Cut Jobs
by Ann M. Thayer
January 20, 2014
| A version of this story appeared in
Volume 92, Issue 3
Lexicon Pharmaceuticals, based in The Woodlands, Texas, has decided to focus resources on its late-stage drug development programs, such as LX4211 for diabetes and telotristat etiprate (LX1032) for carcinoid syndrome. As a result, it will reduce its workforce by about 45%, or 115 jobs, primarily in research, discovery, and support areas. Meanwhile, Cambridge, Mass.-based Ironwood Pharmaceuticals will reduce its headcount by about 10%, or approximately 50 people. The company, which launched its irritable bowel syndrome drug Linzess in 2012, will focus on growth in gastrointestinal therapeutics.
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