Dendreon downsizes amid Provenge reimbursement woes

Share this article:
Dendreon is downsizing to the tune of around 500 jobs and COO Hans Bishop is on the outs as the company struggles to launch its prostate cancer vaccine Provenge, which is seeing glacial uptake amid reimbursement woes.

The company reported August gross revenues of $22 million, and “continues to expect modest quarter-over-quarter growth as it works to educate physicians on the improved reimbursement paradigm,” said a release. At the end of August, the company had cash reserves of around $600 million, and expected to be able to achieve break even in the US at around $500 million in revenue.

“We believe that the improved reimbursement landscape and our comprehensive plan to educate physicians, coupled with the meaningful clinical benefit that Provenge provides to patients, creates a strong market opportunity,” said CEO Mitchell Gold, MD.

News of the layoffs capped a week in which Sanofi announced plans to slash an additional $2.9 billion and to reduce its global headcount by 3,000 positions by the end of the year as the company faces the upcoming expirations of patents for Plavix and Avapro.
Share this article:

Email Newsletters

More in News

Meaningful use not linked to quality: study

Meaningful use not linked to quality: study

A recent study of physicians found no correlation between following EHR meaningful use requirements and providing consistently higher quality of care.

Lilly Q1 sales dip

Lilly Q1 sales dip

US sales fell 34% during the quarter, largely due to lower demand and lower prices for off-patent Cymbalta and Evista.

Gilead reaps huge HCV sales, payer fury

Gilead reaps huge HCV sales, payer fury

Sovaldi's debut has been marked by plenty of criticism from payers and lawmakers, but the hep. C drug's launch, now confirmed to be the fastest of all time, has also ...