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.…