180 jobs, including its entire 150-person sales force. About a month later the company, which makes a drug to treat high cholesterol and an antibiotic, filed for Chapter 11 bankruptcy. Here’s our report on that unfortunate development.
—I also had the bitter-sweet experience of breaking the news in June about 60 Indevus Pharmaceuticals workers who were laid off or expected to be let go as a result of the acquisition of the Lexington, MA, drug developer by Endo Pharmaceuticals (NASDAQ:[[ticker:ENDP]]), of Chadds Ford, PA. The laid-off workers represented about a quarter of the 240 employees at Indevus when Endo completed its $370 million buyout of the firm in March, a company spokesman told me.
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Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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