Santhera Swings Axe After Lead Drug Fails
July 6, 2009 at 1:41 pm EST | Tags: Economy & Layoffs, Failed Drugs
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in May, Switzerland’s Santhera Pharmaceuticals’ lead drug Catena
(idebenone), failed a Phase 3 trial in patients with Friedreich’s
Ataxia.
Today, in an effort to save cash, the company has axed its employees – 26 of them.
Most of the axes will come from Santhera’s R&D division, which will also be axed.
Santhera CEO Klaus Schollmeier said this:
“The planned restructuring is a very difficult decision for us. It became necessary due to the current delay of our most advanced programme combined with a difficult financial environment.”
The bloodbath rages on…
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