Dendreon plans to lay off 500 following disappointing Provenge uptake

Dendreon's restructuring in order to trim expenses will hurt. The Seattle-based firm said it would lay off 500 employees, or about one-quarter of its work force, in reaction to sales of its prostate cancer immunotherapy, Provenge (sipuleucel-T), that have fallen short of its ambitious projections. Although the largest proposed job cuts are in manufacturing, the company is still looking for a contract manufacturing partner in Europe as its moves toward filing for approval of the treatment there at the turn of the this year.

Dendreon's restructuring in order to trim expenses will hurt. The Seattle-based firm said it would lay off 500 employees, or about one-quarter of its work force, in reaction to sales of its prostate cancer immunotherapy, Provenge (sipuleucel-T), that have fallen short of its ambitious projections. Although the largest proposed job cuts are in manufacturing, the company is still looking for a contract manufacturing partner in Europe as its moves toward filing for approval of the treatment there at the turn of the this year.

No one is immune from the Provenge-induced cull. Within the top ranks chief operating officer, Hans Bishop, is departing although...

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