Oscient files for bankruptcy

You can count Oscient Pharmaceuticals among the victims of the economic downturn. The company, a commercial-stage biotech which markets two drugs, filed for bankruptcy protection yesterday. Oscient announced that it had struck a deal to sell its antibiotic Factive to Cornerstone Therapeutics for more than $5 million. Over just a few months time Oscient has announced plans to cut most of some 300 workers as it struggled to stay afloat. Release

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