A small CRO operation in the U.K. has axed most of its staff as it tries to ride out a drop in demand for the safety studies it performs. Veeda Clinical Research says that it has laid off 32 of its 47 staffers in Plymouth, with founder Dr. Maurice Cross explaining that he has had to reduce expenses after a contract stalled.
"We have a contract for £1.2million, signed and sealed, but the client won't give us a start date," he tells a local newspaper. "We are expecting recovery in about September or October."
According to its website, Veeda is based in Ahmedabad, India and was formed in 2005 to specialize in Phase I trials. It also employs a biometric team in Belgium.
- here's the story from This is Plymouth