Amarin CFO resigns amid cost-cutting measures, staff reduction of 40%
A year after a Supreme Court opinion put the final nail in the coffin for Amarin’s fish-oil heart drug, the biotech is making some changes to keep its doors open.
The Irish drugmaker announced early Monday that it will be cutting 65% of its US commercial staff, which will effectively result in a 90% drop from pre-pandemic levels and a 40% reduction in overall employee numbers. On top of that, it would also implement certain “reductions and reallocations in overall selling, general and administrative (SG&A) expenses as well as savings related to refining the Company’s R&D strategy to a more focused, stepwise approach for its FDC program.”
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