Bristol CEO: Job cuts, shutdowns continue

It's a layoffs kind of news day. Bristol-Myers Squibb CEO James Cornelius announced that job cuts have begun at the drug maker, and will continue through year's end and into 2008. Facilities will be shut down, too. 

Cornelius didn't say just how may jobs would be lost, but he indicated that the cuts will hit all areas of the company. "We have begun a significant productivity initiative across all business units," he told analysts during a conference call about the company's third-quarter earnings (which were up 62 percent, incidentally).

- read the story at Smart Money

Suggested Articles

Without any new data, Sarepta appealed an FDA rejection and got a surprising nod for Vyondys 53—its second med approved on a surrogate marker.

Roche’s Tecentriq and Cotellic pairing went 0 for 1 in phase 3 melanoma trials—but Friday, they reversed that trend in a Zelboraf combo test.

Stephen Hahn, an oncologist who served as the chief medical officer for the MD Anderson Cancer Center, has secured Senate confirmation as FDA head.