Sheldon Koenig, Esperion CEO

Es­pe­ri­on gets out the bud­get ax, chop­ping 170 staffers as its big drug launch sput­ters

Es­pe­ri­on’s ex­ec­u­tive team spent years in­sist­ing that they had found the sweet spot in the mar­ket for their cho­les­terol drug. But that strat­e­gy has soured bad­ly, and af­ter strug­gling to sell its heart dis­ease pill for more than a year, the biotech says it will cut about 40% of its staff over the next few weeks.

The lay­offs will take place across the board, from sales and mar­ket­ing to R&D, CEO Shel­don Koenig told End­points News on Mon­day. While the chief ex­ec­u­tive de­clined to elab­o­rate on how many em­ploy­ees will be af­fect­ed, an SEC fil­ing stat­ed that ap­prox­i­mate­ly 170 staffers are on the chop­ping block.

Endpoints News

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Life Sciences Senior Associate

General Catalyst

San Francisco, CA, USA