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Vernalis to cut jobs

21st February 2008

Vernalis has unveiled plans to cuts its workforce by just over half after it became the latest casualty in the UK biotechnology sector.

Chief executive Simon Sturge also announced that he is to step down in a restructuring that will see Vernalis offload its US commercial operations along with one of its top selling drugs Apokyn, and cut its workforce from 210 to 90. Mr Sturge will not be replaced and the company will be run by executive chairman Peter Fellner.

 

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Article Information

Title: Vernalis to cut jobs
Author: Mark Nicholls
Article Id: 5723
Date Added: 21st Feb 2008

Sources

The Financial Times

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