Neurogen cuts jobs

Share this article:
Neurogen said it laid off 70 workers and is taking a charge of about $1.5 million in the first quarter of 2008 to pay severence benefits and other charges.

The move is part of a restructuring to focus resources on advancing its pipeline of insomnia and other compounds including Phase II candidate aplindore for Parkinson's disease and restless legs syndrome.

Neurogen reported a net loss of $40 million for the nine months ended Sept. 30, 2007.
The job cut announcement came just days after Stephen Davis, a lawyer, became president and CEO. Davis succeeds William Koster, who has retired, but remains a director.
Share this article:

Email Newsletters

More in News

BMS Q2 sales slip, Eliquis, Yervoy soar

BMS Q2 sales slip, Eliquis, Yervoy soar

The company attributed part of the Eliquis boost to the BMS-Pfizer DTC and education efforts.

Gilead, Merck HCV marketing battle may be on horizon

Gilead, Merck HCV marketing battle may be on ...

Disclosed in its earnings report yesterday, Gilead may have a card up its sleeve to counter Merck's experimental hep. C combo regimen.

Sales of Biogen MS pill pick up overseas

Sales of Biogen MS pill pick up overseas

Biogen Idec is seeing strong sales for blockbuster MS drug Tecfidera, especially overseas where it's beginning to catch fire this summer.