Smaller biotechs hit as Shire cuts bait on experimental drugs

Share this article:

Amicus Therapeutics announced a work-force reduction of about 20%, or 26 employees, as a part of a corporate restructuring after a commercialization deal with Shire soured.

Shire had licensed compounds in development for Fabry disease, Gaucher disease and Popme disease from the company in November 2007.

Shire also said it will terminate its collaboration with Alba Therapeutics on an experimental drug for celiac disease. Shire acquired rights to the drug, larazotide cetate, outside of the US and Japan at the end of 2007. 

As for Amicus, the biotech said reductions will occur across all levels and organizations within the company, and it is terminating relationships with contractors.

Share this article:
You must be a registered member of MMM to post a comment.

Next Article in Channel

Does a health psychology approach hold the key to Rx adherence? In MM&M's latest Leadership Exchange Uncut eBook, industry stakeholders from the payer, provider, academic and pharma realms explore the "why" behind medicine taking. Access here.