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:
close

Next Article in Business Briefs

Email Newsletters

More in Business Briefs

Allergan reported to seek out Salix deal

The Wall Street Journal says the deal would add "another layer of intrigue" to the Allergan-Valeant hostilities.

India's Marck gets FDA Warning Letter

Inspectors of Marck Biosciences found an array of problems during a October-November 2013 inspection, including mold near a sterile area that was so bad "the room had 'partially caved in.'"

DOJ closes Brilinta investigation

AstraZeneca announced the end of the investigation Tuesday.