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ObsEva Slashes 70% Of Staff To Survive

Restructuring Takes Effect At Swiss Biotech

 
• By Kevin Grogan

Having surrendered the rights to linzagolix, its GnRH antagonist for bleeding associated with uterine fibroids that the FDA blocked, ObsEva is showing the door to most of its staff in a bid to cut costs and keep in business.

severing ties and boycott concept
• Source: Shutterstock

After hitting a stumbling block with US regulators in the summer for its uterine fibroids drug linzagolix, ObsEva SA set up a restructuring plan that would involve "mass dismissals" and the Switzerland-headquartered women's health group has unveiled the extent of those cuts.

ObsEva's board has authorized the termination of approximately 70% of employees. The company, which had around 50 employees in 2021,...

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