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Finance Watch: BioMarin Cuts 225 Jobs In Line With Recent Reorganization

Genentech Eliminates 93 Positions In California

 
• By Mandy Jackson

Restructuring Edition: BioMarin’s layoffs are associated with strategic shifts announced during its second quarter update. Also, Repare reduced its workforce by 25% as it focused in on clinical-stage programs and Aadi cut 80% of its R&D team to conserve cash after a clinical trial failure. 

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BioMarin Pharmaceutical Inc. followed up its recent announcement of a shift in research and development priorities and a new commercial strategy for its hemophilia A gene therapy Roctavian (valoctocogene roxaparvovec) with a disclosure on 28 August that the company will reduce its global workforce by 225 people in line with its reorganization plans.

San Rafael, CA-based BioMarin revealed the layoffs, which will be substantially completed by the end of 2024, in a filing with the US Securities and Exchange Commission (SEC)

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