Javelin Pharma to cut workforce by 15%

Javelin Pharmaceuticals, a US developer of novel products for pain management, says that it will reduce its workforce by around 15%, which is aimed at reducing its cost structure.

"We have taken difficult, but necessary actions, to reduce fixed costs across the organization to conserve and extend valuable development dollars. Today's organizational changes are being effected in support of our priorities to file high-quality regulatory submissions in the USA and the European Union for Dyloject [a novel diclofenac formulation] and Ereska [a proprietary nasal formulation of ketamine] in 2009 and consummate successful commercialization partnerships for our late-stage acute pain care product portfolio," said Martin Driscoll, chief executive.