Novo Nordisk axes cell therapy research in sweeping overhaul

Novo Nordisk (NOV: N) is exiting cell therapy research as part of a major restructuring led by new chief executive Mike Doustdar. The Danish drugmaker told The Pharma Letter it was “assessing all business areas and regions to simplify structures, reduce duplication, and sharpen focus.”

The firm’s cell therapy programs include efforts to address Type 1 diabetes, heart failure and Parkinson’s disease. Novo said it was “in the process of identifying partners with the right capabilities and manufacturing capacity to further develop our innovations.”

The decision brings job losses across the company’s 250-strong cell therapy unit and forms part of a wider initiative to cut 9,000 jobs globally, around 11% of the workforce, a move which could save over $1 billion per year, according to estimates.