Javelin Pharmaceuticals, Inc. a developer of novel products for pain management, has announced that it will reduce its workforce by approximately 15 percent. The reduction is intended to reduce Javelin’s cost structure. “We have taken difficult, but necessary actions, to reduce fixed costs across the organization to conserve and extend valuable development dollars. Today’s organizational changes are being effected in support of our priorities to file high quality regulatory submissions in the US and the EU for Dyloject and Ereska in 2009 and consummate successful commercialization partnerships for our late stage acute pain care product portfolio,” said Martin Driscoll, CEO of Javelin Pharmaceuticals. Mr. Driscoll continued, “We appreciate the dedication and past efforts of those employees affected by today’s announcement and thank them for their contributions in helping Javelin attain its first product approval and launch in a major western market.”
