En­do Phar­ma­ceu­ti­cals chops 560 jobs to re­fo­cus on cel­lulite drug launch

Less than a month af­ter ink­ing a $658 mil­lion deal to buy out BioSpecifics Tech­nolo­gies, En­do Phar­ma­ceu­ti­cals is shut­ter­ing mul­ti­ple man­u­fac­tur­ing sites and cut­ting 560 jobs to re­fo­cus on a drug launch in the spring.

The re­struc­tur­ing will oc­cur in phas­es over the next few years, En­do $ENDP said Thurs­day. The Dublin-based biotech will grad­u­al­ly ex­it man­u­fac­tur­ing sites in Irvine, CA and Chest­nut Ridge, NY, and API man­u­fac­tur­ing and bioe­quiv­a­lence study sites in In­dia through the sec­ond half of 2022. Plus, it plans on trim­ming ad­min­is­tra­tive costs by out­sourc­ing “cer­tain trans­ac­tion pro­cess­ing ac­tiv­i­ties.”

To read Endpoints News become a free subscriber

Unlock this article instantly, along with access to limited free monthly articles and our suite of newsletters

SIGN UP LOG IN