DECEMBER 22, 2021 — AN ADDITIONAL 38 LAYOFFS
The company has announced that there will be an additional 38 layoffs after the disappointing results of the late-stage clinical failure of its blood pressure treatment and its mid-stage failure of its ulcerative colitis treatment. Layoffs are scheduled for late February 2022.
SEPTEMBER 21, 2021 — Original post…
San Francisco, California-based Theravance Biopharma US, a developer specializing in the discovery, development, and commercialization of organ-selective medicines, has announced a major restructuring that will impact 75% of its current workforce. The restructuring will impact 163 employees between November 2021, and be completed by February 2022.
The decision was driven by later-phase clinical trial failures and the desire of the company to refocus its resources on the development of respiratory drugs.
According to a statement issued by Theravance chairman and CEO Rick E. Winningham, "Given the recent results from our late-stage development programs, we have made the difficult but necessary decision to focus our resources on our most promising respiratory programs and reduce the size of the organization. I am confident these actions will help us to continue making transformational medicines aimed at improving the lives of patients suffering from serious respiratory illnesses while creating value for our shareholders.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?