ARIAD Pharmaceuticals, Inc. (ARIA) today announced that it is reducing approximately 25 percent of its headquarter positions.
The reduction includes approximately 90 positions in the U.S. and Europe. No customer-facing positions within ARIAD’s commercial or medical affairs organizations are included in this action.
This reduction in workforce is one of five key areas of ARIAD’s ongoing strategic review. In addition to the decision announced today, the review also includes an evaluation of commercial maximization initiatives, geographical presence, R&D portfolio, and business development opportunities to support the overall strategic direction. ARIAD plans to provide further details on the progress of the strategic review, which is aimed at increasing patient and shareholder value, in the second quarter of 2016.
“The decision to reduce the Company’s workforce has been extremely difficult, but we believe that it is a necessary step to invest in the promising growth potential of both Iclusig® and brigatinib and, ultimately, to further enable our orphan oncology medicines to reach cancer patients in desperate need,” said Paris Panayiotopoulos, president and chief executive officer of ARIAD. “I would like to express my sincere gratitude to the talented employees affected today, and we will do our utmost to ensure everyone is treated with fairness and respect.”
Kindra has closed a US$4.5 million seed funding round to expand and grow its menopause offerings. The US-based brand, which is backed by P&G Ventures, aims to drive a cultural shift around menopause, which has been “long overlooked.”
Colorado established a new law this year requiring companies to divulge a salary range on job postings. But some large companies, like Johnson & Johnson, McKesson and Cardinal Health, have responded by barring candidates from the state.
Former Emisphere stockholder IsZo Capital is one of several parties seeking damages against controlling stockholder MHR Fund Management for allegedly “co-opting” the drug delivery specialist’s board and forcing an “ill-timed” sale to Novo Nordisk at an “artificially low price,” a new lawsuit says.