Mer­ri­mack CEO is out as the biotech re­struc­tures, chop­ping its work­force and over­haul­ing R&D

Mer­ri­mack Phar­ma­ceu­ti­cals $MACK is cut­ting back and re­fo­cus­ing its re­search ef­forts in a ma­jor over­haul, which in­cludes the de­par­ture of long­time CEO Bob Mul­roy.

The biotech an­nounced this morn­ing that it is lay­ing off 22% of its work­force —  more than 60 staffers based on the 306-mem­ber work­force it had at the end of the year. And a big part of the lay­offs will fall in R&D and man­u­fac­tur­ing.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER