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As Provenge Sales Dip, Dendreon Hopes Restructuring Is The Answer

 
• By Paul Bonanos

Despite weaker sales of the cancer immunotherapy compared to the first quarter, the Seattle-based biotech insists it can stimulate demand.

Faced with decreasing sales of prostate cancer immunotherapy Provenge (sipuleucel-T), Dendreon Corp. has taken the drastic measure of cutting 600 jobs and shuttering one of its three manufacturing plants.

Dendreon announced the restructuring as it revealed disappointing Provenge sales in a second-quarter earnings call July 30. The single-product company posted $80 million in net sales over the three-month period,...

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