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Alkermes Restructures, Prioritizing CNS And Oncology And Cutting 160 Employees

 
• By Jessica Merrill

The reorganization, which is expected to save $150m, will cement the company's transition from a drug delivery specialist to a drug developer, CEO Richard Pops said.

man hand holding card with the word expenses. cutting expenses and costs concept. retro style image - Image
Alkermes expects to save $150m from a reorganization • Source: Shutterstock

Alkermes PLC has reorganized its business operations to reduce spending and drive profitability, cutting 160 employees while refining its R&D priorities. The effort is expected to yield savings of $150m, the company announced on 23 October.

The restructuring could position Alkermes to improve earnings and will also mark the company's full transition from a drug delivery...

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