> The move is part of new CEO Doustdar’s initiative aimed at saving about $1.3 billion annually by the end of 2026. The cost-cutting bid involves laying off 9,000 employees, or about 11% of the company’s global workforce.
Also part of a larger trend of boiopharma pulling away from cell therapy development. The science seems to work but too expensive to operationalize and manufacture just to customize bespoke treatment for every patient, not sustainable financially.
> The move is part of new CEO Doustdar’s initiative aimed at saving about $1.3 billion annually by the end of 2026. The cost-cutting bid involves laying off 9,000 employees, or about 11% of the company’s global workforce.
Also part of a larger trend of boiopharma pulling away from cell therapy development. The science seems to work but too expensive to operationalize and manufacture just to customize bespoke treatment for every patient, not sustainable financially.