Merck KGaA life sciences reorg will claim 200 jobs; Tesaro shares sink on new report discounting buyout talk
→ Merck KGaA is winnowing out 200 jobs over the next five years as it reorganizes its European life sciences business. The company is consolidating the manual filling and distribution of non-regulated laboratory chemicals and reagents in Schnelldorf, Germany while closing ops in Steinheim, Eppelheim, Hohenbrunn and Berlin. The reorg calls for an investment of €90 million in four sites in Germany, Switzerland and France.
→ Amicus Therapeutics $FOLD is taking advantage of the FDA’s recent about-face on its Phase III demands for migalastat. After the market closed Wednesday the biotech announced plans to raise $225 million through a stock offering.
→ Foundation Medicine has struck a deal to assist Kura Oncology in recruiting patients for its clinical program for tipifarnib in patients with relapsed and/or refractory HRAS mutant squamous cell carcinoma of the head and neck.