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:

Email Newsletters

More in News

Lack of marketing partner delays Afrezza launch

Lack of marketing partner delays Afrezza launch

Afrezza was heralded as one of the most innovative diabetes products of the last decade. So, why hasn't MannKind set a firm launch date for the product?

In sunny world of LASIK marketers, a dark underbelly

In sunny world of LASIK marketers, a dark ...

Last week, the former FDA branch chief who originally approved LASIK machines asked FDA to reconsider its denial last month of his petition to ban these devices.

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.