Mer­ri­mack CEO is out as the biotech re­struc­tures, chop­ping its work­force and over­haul­ing R&D

Mer­ri­mack Phar­ma­ceu­ti­cals $MACK is cut­ting back and re­fo­cus­ing its re­search ef­forts in a ma­jor over­haul, which in­cludes the de­par­ture of long­time CEO Bob Mul­roy.

The biotech an­nounced this morn­ing that it is lay­ing off 22% of its work­force —  more than 60 staffers based on the 306-mem­ber work­force it had at the end of the year. And a big part of the lay­offs will fall in R&D and man­u­fac­tur­ing.

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