Struggling Ophthotech organizes a global hunt for some new opthalmology deals
Ophthotech wasted little time in responding to its Phase III Fovista disaster by laying off 135 staffers and hunkering down to weather the storm. And now it’s set off on a public hunt for a deal, or deals, to replace its one-time blockbuster contender with a new eye drug program that can whip up some badly needed excitement for the biotech.
Officially, Ophthotech $OPHT has begun an exploration of “strategic alternatives,” which usually translates into a last-ditch effort to squeeze any remaining value there is in a biotech after a major catastrophe. But the biotech indicated that it has some specific goals in mind.
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