Two more companies to add to the layoff list: Palo Alto's Jazz Pharmaceuticals and Switzerland's Arpida both announced new rounds of cost-cutting and layoffs today.
Jazz Pharmaceuticals is bidding farewell to 71 employees (24 percent of its work force) in its third round of layoffs this year. Previously, the company cut 67 jobs in November and 33 jobs in June. The company said that the layoffs won't impact the sales department as the company looks to increase sales for Xyrem and Luvox. "Concentrating our company's efforts on growing sales of our commercial products and pursuing selected development programs, while streamlining our operations, will reduce ongoing operating expenses and minimize the need for additional financing," explained CEO Samuel Saks. Jazz announced separately that CFO Matt Fust will leave at the end of the year to "pursue other professional interests."
Meanwhile, Arpida said it will cut 60 jobs following an FDA advisory board's rejection of anti-infective treatment Iclaprim. The company wants to preserve cash as it consults with outside experts to determine what steps to take with Iclaprim. Arpida will now thoroughly analyze the situation with external experts to determine the future development of Iclaprim. "The advisory board's recommendation has come totally unexpected, because we are still convinced that Iclaprim offers a valuable therapeutic asset for the treatment of complicated skin and skin structure infections..." said CEO Jurgen Raths. "We will use the FDA's feedback as well as further clinical advice and expertise in our development decisions."
- see Jazz's announcement
- here's Arpida's release