Cit­ing mi­graine drug growth and pan­dem­ic, Lund­beck to cut 300 jobs and close In­dia fa­cil­i­ty

The Dan­ish bio­phar­ma Lund­beck has seen its fair share of R&D set­backs over the years but it’s tak­en pride in Vyep­ti, the CGRP mi­graine drug ap­proved in Feb­ru­ary 2020. And ac­cord­ing to Lund­beck ex­ecs, the drug is prov­ing so suc­cess­ful it’s forc­ing lay­offs in oth­er parts of the com­pa­ny.

Lund­beck will ter­mi­nate 300 em­ploy­ees across its di­vi­sions, CFO An­ders Götzsche said in the com­pa­ny’s third quar­ter earn­ings call Thurs­day, and shut down its fa­cil­i­ty in In­dia he said wasn’t prof­itable. Some of the cuts have al­ready been made, Götzsche added, and the move is ex­pect­ed to save be­tween rough­ly $15 mil­lion and $31 mil­lion.

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