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Lately we've been keeping Eyes On the corporate restructuring in the BioPharma sector. We've seen Big Pharma and BioTech refocusing their portfolios as well as infrastructure. Here's a few that caught our interest.
Sanofi’s R&D pipeline reprioritization accelerates staff layoffs. The pharma’s head of R&D, Houman Ashrafian, PhD, described the company’s pipeline as being in a "now or never moment" and pursuing an increase in the number of phase 3 trials by 50% in the next two years. The success of this "unique effort" would secure more than 35 ongoing late-stage studies by the beginning of 2026 but result in "fewer projects in research to fund the required increase in investment in Sanofi’s development portfolio."
The idea of redirecting resources toward more successful therapeutic areas, like immunology, was first presented by the CEO Paul Hudson in October last year. As a part of his "Play to Win" strategy, this shift aims to save about €700 million in total cost-saving work.
To date, Sanofi refuses to elaborate on how many employees will be impacted in total when changes are implemented. Though last month, the closure of Sanofi’s UK R&D site was announced, cutting 90 jobs.
See more details on Sanofi's strategy and pipeline:
Following a strategic revision of its business, Omega Therapeutics said in its Q4 financial release that it has cut approximately 35% of its workforce. The company will prioritize its preclinical programs, including OTX-2101 for non-small cell lung cancer, an HNF4A agent for fibrotic liver disease, and a partnership with Novo Nordisk to develop an epigenomic controller to target obesity. Omega disclosed in a regulatory filing that it had 93 full-time employees at the end of 2023.
See more details on Omega Therapeutics strategy and pipeline:
Bristol Myers Squibb disclosed in a WARN notice in California that it is letting 252 workers go from the former Mirati Therapeutics headquarters in San Diego, effective 22nd April. On 23rd January BMS completed its $4.8 billion acquisition of Mirati, gaining the FDA-approved non-small cell lung cancer drug Krazati – a KRAS inhibitor that will compete with Amgen’s Lumakras. Mirati reported in November that this drug had generated approximately $36 million.
See more details on BMS strategy and pipeline:
Amylyx Pharmaceuticals has begun to pull its amyotrophic lateral sclerosis drug Relyvrio (sodium phenylbutyrate and taurursodiol) from North American and Canadian markets, whilst following a restructuring plan that will involve decreasing the company’s workforce by about 70%. Amylyx has stated they will cooperate with the FDA and Health Canada to end the marketing authorizations for Relyvrio.
According to Amylyx, those who are presently being treated with Relyvrio can remain on treatment or change to a free program based on their physician’s recommendations. Relyvrio failed its Phase III PHOENIX trial in March 2024, unable to improve its results in the Revised Amyotrophic Lateral Sclerosis Functional Rating Scale at 48 weeks compared to placebo. The Amyotrophic Lateral Sclerosis Assessment Questionnaire showed it to fall short of its secondary endpoints, such as self-reported health status and slow vital capacity.
See more details on Amylyx Pharmaceuticals strategy and pipeline:
Follow the latest industry job cuts and restructuring initiatives on BioSpace.
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