Two Bay area biotechs, Alza and Scios, are in line for some big layoffs as Johnson & Johnson slims down its pharma operations. Acquired for $12 billion six years ago, J&J says that it is shutting down Alza's Mountain View facility and laying off 600 workers. J&J is largely ending the R&D efforts at Alza, which had been structured to tweak the pharma giant's therapies. The San Jose Mercury News also reported that Scios--which markets Natrecor--has already seen the pink slips fly and more cuts are expected. Two other J&J companies working in medical devices are also expected to undergo significant restructuring.
- read the report from the Wall Street Journal (sub. req.)
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