Vir Biotechnology Decreases The Surplus Population

The beleaguered group is to cut its headcount and refocus on its hepatitis programs.  

Monster Ztudio/Shutterstock.com

Spare a thought for the 12% of Vir Biotechnology, Inc. employees who will be having a pretty unfestive festive season. The antiviral specialist is to make 75 positions redundant as part of a cost-cutting drive that will also see it refocus development efforts yet again and close two R&D facilities.

Key Takeaways
  • Vir has had a hard year and is cutting staff and closing sites, refocusing on potentially high-growth areas

Vir hopes to save at least $40m per year as a result. The fact that its coffers were already swollen...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Strategy

Second Quarter M&A Activity Looks Like More Of The Same, Mostly

 
• By 

The biopharma sector booked nearly the same number of acquisitions in each of the past two quarters, according to Evaluate data, but there are some encouraging signs in Q2.

How Teva Is Expanding Innovation To Fuel ‘Pivot To Growth’

 

Teva VP-global R&D and chief medical officer Eric Hughes talked to Scrip about building the company’s innovative pipeline in its growth-acceleration phase.

Will AstraZeneca Reach Summit And Be A PD-1xVEGF Player?

 
• By 

Rumor mill suggests a $15bn licensing deal for ivonescimab is in the offing.

Novartis’s Cosentyx Suffers Rare Phase III Fail

 
• By 

Multi-blockbuster falls short in a giant cell arteritis study.

More from Business

Novartis’s Cosentyx Suffers Rare Phase III Fail

 
• By 

Multi-blockbuster falls short in a giant cell arteritis study.

In Brief: BioVersys And Shionogi Align In Non-Tuberculous Mycobacteria R&D

 
• By 

Deal Snapshot: Having recently raised an $89m IPO, BioVersys is partnering on and optioning rights to a preclinical NTM development program with Shionogi.

BerGenBio Plumps For Oncoinvent From Long List Of 50 Suitors

 
• By 

The merger with a fellow Norwegian biotech comes a few months after its lead asset, bemcentinib, bit the dust.