Issue Date: July 11, 2016
Arena Pharma cuts to the bone
Narrowing its focus to its clinical-stage pipeline, Arena Pharmaceuticals will lay off 100 people, or 73% of its workforce. The cuts are expected to save Arena $17 million annually. The reductions come on top of the 80 researchers the San Diego biotech firm laid off in November as it tries to support the development of three compounds in early and midstage clinical trials. Arena and its partner Eisai received FDA approval in 2012 for the weight loss pill Belviq, but the drug has not been a commercial success.
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