Cangene cuts jobs and execs on lower US government orders
This article was originally published in Scrip
Cangene, one of Canada's longest-standing biopharma companies, has announced the departure of two senior executives and a workforce reduction of around 17%. The cuts come in the face of reduced orders from the US government for its bio-defence stockpiles, and following the appointment last September of CEO John Sedor, who wants to help the company "recreate its entrepreneurial culture".
You may also be interested in...
INFOGRAPHIC: In 2019, 10 blockbuster medicines booked combined sales of $92.5bn. This infographic examines those drugs that commanded the greatest revenues globally, and answers some key questions. Which therapeutic areas include the most lucrative blockbusters? Which companies enjoyed their spoils? And which drugs were new to the top 10 last year? It also takes a look at the position of these products on the all-important US market.
Fundraising in the life sciences sector has been booming even as firms in many other industries are struggling to stay in business. Goodwin’s David Mardle is upbeat about the sector’s ongoing prospects – although M&A deals are currently proving tricky to complete.
See how much the CEOs and R&D heads of the world’s biggest pharma companies get paid, and how those companies are performing.