Struggling to save cash, Neurocrine axes sales force

Analysts weren't surprised by yesterday's announcement that Neurocrine is laying off its 200-person sales force in the U.S. After Pfizer terminated its collaboration with Neurocrine to market the anti-insomnia drug indiplon, the company had to find different ways to conserve cash while developing their lead drug. The San Diego-based biotech says the move will save the company $16 million this year. Indiplon has been hit by a series of setbacks that has slowed its path to the market.

- check out the report on Neurocrine from Forbes.com
- and more from TheStreet.com