Double Dip in the Life Sciences?

Double Dip in the Life Sciences?

We’ve noticed an alarming trend that we haven’t seen since early 2009. In the past two weeks, we’ve noticed a high number of pharma/biotech companies having  layoffs.
This is just a small example from memory that I’ve seen this week:

Reata in Texas – pulled a late phase product
Aveo in Mass – scaled back to conserve capital for late stage candidates
Inspiration in Mass – 50% RIF and then declared chap 13
Ipsen in Mass – a partner of Inspiration
Amylin in CA – closing plant in San Diego post BMS acquisition
Sanofi PA – making Cambridge the COE for oncology
MPI Research in MI – cut the CEO and other exec staff to financial purposes

Let me be clear, I’m not calling a doom and gloom scenario quite yet. However, there has been an uptick and enough to for us to scratch our collective heads. What have you seen?

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