AM I NEXT? NO LOVE AT FERRING PHARMACEUTICLES USA

Parsippany, New Jersey-based Ferring Pharmaceuticals USA, a biopharmaceutical company specialising in areas such as reproductive health, maternal health, gastroenterology and urology, has announced a reduction in its workforce.

The reduction in force will impact 134 employees with layoffs in New Jersey, Minnesota, and 55 employees in Roseville, Minnesota. Layoffs will occur between February and March 2024.

According to a company spokesperson, "The company has optimized resources to align with its revised business strategy. Following redeployments, this has resulted in a limited number of job reductions."

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. We see good people being laid off through no fault of their own. 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?

AM I NEXT? NO LOVE AT PTC THERAPEUTICS

South Plainfield, New Jersey-based PTC Therapeutics, a pharmaceutical company focused on the development of orally administered small molecule drugs and gene therapy, has announced plans for a cost-cutting and restructuring initiative, including a 25% reduction in its workforce

The reduction in force will impact approximately 350 employees, primarily working on early-stage research programs and those at its gene therapy manufacturing facility located in Hopewell, New Jersey. "The Company plans to substantially complete the reduction in workforce by January 15, 2024."

This is the second round of layoffs this year.

The decision appears to be driven by a regulatory setback for its drug Translarna, used to combat Duchenne muscular dystrophy.

According to an SEC filing, "On September 28, 2023, PTC Therapeutics, Inc. announced further strategic prioritization following the continued review of its portfolio that the Company began in May 2023. In connection with the strategic prioritization, on September 28, 2023, the Company committed to a reduction in workforce of approximately 25%, which will primarily affect employees in the United States, including those employees involved in early-stage research and gene therapy manufacturing and associated selling, general and administrative functions."

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. We see good people being laid off through no fault of their own. 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?

AM I NEXT? NO LOVE AT APELLIS PHARMACEUTICALS

Waltham, Massachusetts-based Apellis Pharmaceuticals, a clinical-stage biopharmaceutical company discovering and developing therapeutic compounds for autoimmune and inflammatory diseases, has announced a corporate restructuring and reductions in its workforce and external expenses.

The decision, driven partially by products and their regulatory approvals, will impact 225 employees or approximately 25% of the company's workforce and will be substantially completed in the third quarter of 2023.

CEO and co-founder Dr. Cedric Francois noted, “We are taking important actions to strengthen our ability to invest in growth opportunities and support the Company's long-term success, including maximizing the significant opportunity with SYFOVRE. As a more focused organization, we believe these initiatives put Apellis in a stronger position to create value for shareholders and continue delivering on our mission for patients now and in the future.”

“These were difficult, but necessary, decisions. We are thankful for the commitment and contributions of our colleagues who have worked relentlessly to advance life-changing medicines for some of the most challenging diseases patients face. As we move forward, we are committed to supporting our teammates throughout this process.”

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. We see good people being laid off through no fault of their own. 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?