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

Social media perceived as clinical trial risk

The Wall Street Journal reports that patients are sharing a plethora of information about their clinical trial experiences, from how to get picked, to how to figure out who is in a control group.

Cancer PSA features scientists

Stand Up To Cancer is kicking off a PSA that features Grammy-winner Jennifer Hudson and a Genentech scientist.

Lawmakers eye pricing

The Senate Judiciary Committee's antitrust panel is looking into how three major pharmaceutical manufacturers decided to set minimum prices for their contact lenses.