Vertex lays off 370, focuses on cystic fibrosis

Share this article:

Flagging Incivek sales have prompted Vertex to slash 370 jobs. Bloomberg reports that the company's hepatitis C drug has lost out to competitors as new drugs have entered the marketplace, and anticipated newer drugs, such as Gilead's sofosbuvir, have dampened enthusiasm for the treatment. Bloomberg notes Vertex's peak Incivek sales happened in the fourth quarter of 2011 and have been declining since. The cuts amount to 15% of the company's workforce.

The company said in a third-quarter earnings statement that it will focus on cystic fibrosis.

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

Next Article in Business Briefs

Email Newsletters

MM&M EBOOK: PATIENT ACCESS

Patient access to pharmaceuticals is a tale of two worlds—affordability has improved for the majority, while the minority is hampered by cost, distribution and red tape. To provide marketers with a well-rounded perspective, MM&M presents this e-book chock full of key insights. Click here to access it.

More in Business Briefs

Novartis said to be stepping out of HCV

Novartis is said to have relinquished rights to an investigational hep. C treatment, signaling its exit from the therapeutic space, according to a former partner's announcement.

Monday Moves: September 15

Hires and promotions for manufacturers, regulatory and agencies

Kantar acquires Evidências, expands Brazilian presence

The company's acquisition signals the growing importance of understanding the Brazilian healthcare market and evidence-based healthcare management services.