GPC Biotech to cut US staffing levels 15%
German biopharmaceutical firm GPC Biotech AG has announced plans to reduce staffing levels at its US subsidiary by around 15% as part of a wide ranging corporate restructuring program. The firm said that the cutbacks would affect its commercialization, drug development, general and administrative teams.
GPC, which faces a US law suit over the alleged misrepresentation of adverse reaction data regarding its anticancer agent satraplatin (Marketletter August 6), said the cutbacks are is necessary in order to move forward. The firm added that it remains committed to satraplatin, which it licensed from Spectrum Pharmaceuticals in 2002, and would do everything it can to bring the drug to market.
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