Aspreva announces restructuring designed to drive long-term growth
Aspreva Pharmaceuticals Corporation announced a reorganization of the company's operations in order to better focus on core activities that are expected to drive long-term growth. To achieve this goal, the company expects to reduce staffing levels by approximately 25 percent, or 33 positions worldwide. As part of the restructuring, Dr. Richard Jones, Chief Scientific Officer, will be leaving the company. His responsibilities will be assumed by Dr. Usman Azam, Aspreva's Chief Medical Officer.
his restructuring coincides with the winding down of the induction phase of Aspreva's lupus nephritis clinical trial following the release of preliminary results in June and the completion of Aspreva's phase III myasthenia gravis clinical trial in late 2006. The timing of the restructuring and related charges is subject to local labor regulations; however the company expects to substantially complete the restructuring during the third quarter 2007. Aspreva expects the severance and associated costs of this restructuring to be between US$1.5 and 2.0 million.
According to the company, this reorganization reflects the company's plan to refocus resources and create a more flexible global platform for exploiting new product opportunities through partnerships or acquisitions.
Organizations
Other news from the department business & finance

Get the life science industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.
Most read news
More news from our other portals
Last viewed contents
CRESTOR Demonstrates CV Risk Reduction in a Large Statin Outcomes Study
Category:Pharmacokinetics
ThromboGenics and BioInvent Announce Successful Completion of Phase I Clinical Trial of the Anticoagulant TB-402 - Decision taken to advance novel, long-acting anticoagulant into Phase II clinical development
Rehabilitation_(neuropsychology)
Collagen: powerful workout with water - Collagen fibres not only passively support bone, tendons and ligaments, but also actively contract
Crucell and Harvard (BIDMC) Join Forces with IAVI to Advance AdVac-based AIDS Vaccine
Evonik ends cooperation with Chr. Hansen
Piriformis_syndrome
DNA-coated nanotubes help kill tumors without harm to surrounding tissue
