BD recently informed California’s Employment Development Department that it will relocate its Biosciences division’s reagent manufacturing and R&D operations in San Jose. The Life Sciences tech giant is laying off roughly 100 workers due to the relocation to other BD sites, according to its WARN letter dated Dec. 12, 2023. The layoffs have been taking…
Bayer plans significant job cuts as it restructures
Bayer recently announced that it is embarking on a comprehensive restructuring plan with significant staff reductions. The Germany-based pharma giant’s management aims to enhance operational performance through a new model called “Dynamic Shared Ownership” (DSO). This strategic change aims to reduce hierarchies, eliminate bureaucracy, streamline structures, and accelerate decision-making processes. The new model, however, will…
Pfizer restructuring push hits Ireland
After encountering a significant drop in demand for its COVID-19 products, Pfizer announced a significant restructuring aimed at ultimately saving $3.5 billion globally. The initiative continues with cost-cutting efforts in Ireland where the company plans to consolidate offices and eliminate jobs. The pharmaceutical giant, which was the biggest in the world in 2022, recently announced…
Forecast 2024: Pharma industry grapples with regulatory hurdles and AI opportunities
Heading into 2024, the pharma industry finds itself in uncharted waters. On the one hand, the sector’s commitment to R&D investment and innovation output is likely to remain strong, with tools based on AI, automation and real-world data promising more streamlined drug candidate optimization. Additionally, the pharma sector is typically resilient in economic downturns. Financial…
Novartis’s Sandoz spin-off and Sanofi’s portfolio slim-down reflect pharma push toward specialization
The pharmaceutical trend toward increasing concentration appears to be gaining momentum. On September 15, Novartis shareholders approved the company’s proposed spinoff of Sandoz, the generics and biosimilars unit. The company anticipates the deal to close in early October. Similarly, Sanofi is also taking a scalpel to its operations, offloading a selection of its central nervous…
New Bayer CEO Bill Anderson’s move to cut management mirrors his Roche playbook
Bill Anderson, who assumed leadership of Bayer in June, is eyeing cuts to the company’s mid- and upper-management. In addition to the cost-savings, Anderson expects the cuts to streamline decision-making. The moves are part of Anderson’s first step in bolder initiative to revamp Bayer’s operational dynamics in the face of investor pressures. It is relatively…
Biopharma talent wars heat up as openings spike in 2023
The biopharma industry had a lull in job opening growth from late 2022 and into early 2023. At that time, some early stage companies struggled to secure funding, while larger firms adopted a more cautious posture, according to recent research from the global real-estate firm JLL. Madeline Holmes, a senior research analyst at the company,…
Biotech industry downturn: Struggles continue as layoffs mount and funding dwindles
The once-thriving biotech industry, known for breakthroughs in cell therapy, gene editing, and messenger RNA, is now showing signs of a downturn. During the early days of the pandemic, mRNA vaccine trailblazers like Moderna (Nasdaq:MRNA), Pfizer (NYSE:PFE), and BioNTech (Nasdaq:BNTX) enjoyed skyrocketing revenues, but the recent biotech industry downturn has cast a shadow over this…
Pharma layoffs: Ferring Research Institute in San Diego to shutter
As the threat of a global recession looms in 2023, the pharmaceutical industry is beginning to feel the pressure, with several pharma and biotech companies conducting layoffs and reducing their workforces. Among them is the Ferring Research Institute in San Diego, which has announced plans to lay off all 89 of its employees in May.…