UK-based vaccine maker Acambis has ousted its CEO and CFO and announced plans to lay off 15 percent of its staff in a restructuring triggered by its failure to land a big contract from the U.S. government. CEO Gordon Cameron is being replaced by Ian Garland, the former finance chief at Arrow Therapeutics, which was acquired recently by AstraZeneca. That connection has raised speculation that Acambis could be sold or merged into another developer. Investors and analysts generally cheered the news, helping buoy the company's stock price this morning.
- check out the release on the restructuring
- here's the report on Acambis from The Independent
Acambis shares plunge after U.S. nixes contract. Report
Acambis completes vaccine BLA. Report