Endo, Impax and Zogenix are all ‘downsizing’
Three US pharmaceutical companies are laying off staff. Endo will shed 15% of its global workforce by mid 2014; Impax is cutting 110 manufacturing and sales positions (around 12% of its workforce); and Zogenix is laying off 55 of its 148 staff (37%).
Part of Endo’s plans to ‘streamline its operations’ are to sell off its HealthTronics and pharmaceutical R&D subsidiaries. The company will concentrate on its current portfolio of branded medicines, as well as generics, medical devices and services.
The majority of Impax’s cuts will be at its manufacturing plant in Hayward, California. The plant has repeatedly failed to meet standards in inspections by the US Food and Drug administration, which has held back approval of Impax’s Parkinson’s disease drug Rytary – an extended release formulation of carbidopa and levodopa.
Zogenix is dropping staff to cut costs, giving it time to complete regulatory approval of Zohydro ER (hydrocodone bitartrate extended release capsules) for chronic pain. The company also aims to round up more cash by licensing out its DosePro drug delivery technology and attracting partners for other drug products.