Glen­mark's biotech com­pa­ny Ich­nos Sci­ences lays off 50

Ich­nos Sci­ences, an in­no­va­tion unit launched out of gener­ics mak­er Glen­mark in 2019, is lay­ing off about 50 work­ers out of ap­prox­i­mate­ly 225 em­ploy­ees, the com­pa­ny con­firmed to End­points News.

“Based on the cur­rent glob­al eco­nom­ic cli­mate and volatil­i­ty in the fi­nan­cial mar­kets and the biotech­nol­o­gy sec­tor, Ich­nos is in the process of a re­or­ga­ni­za­tion,” a spokesper­son told End­points News in an emailed state­ment. The lay­offs in­clude re­search and gen­er­al and ad­min­is­tra­tive po­si­tions.

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