Targacept labs to close by year-end
This article was originally published in Scrip
Targacept is to close its laboratory operations by the end of 2012, and will lay off 38% of its remaining workforce to leave it with 43 employees. The measures will cost it $1.5 million in fourth-quarter one-off charges but should generate annual savings of $9.6 million from next year, as it shifts to focus exclusively on programmes in the clinic.
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