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Merrimack's Slow Ramp-up For Onivyde Prompts Cutbacks

 
• By Joseph Haas

CEO removed as part of 22% staff cut as Merrimack looks to increase runway while awaiting data to add first-line pancreatic cancer to the Onivyde label.

Merrimack Pharmaceuticals Inc. has talked a good game about waiting out the slow uptake of its pancreatic cancer drug Onivyde since its approval last October, but patience seemed to run out on Oct. 3, as the company announced a restructuring that would terminate CEO Robert Mulroy along with 22% of the employee base and save an estimated $200m over the next two years.

Onivyde, a liposomal injectable formulation of irinotecan (Pfizer Inc.'s Camptosar and generics), obtained FDA approval last Oct. 22 as...

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