in-Pharma Technologist reports that Imclone's Branchburg, New Jersey manufacturing facility that makes Erbitux has closed. That plant employed 140 manufacturing personnel who will now be eligible to bid for up to 90 jobs elsewhere in Imclone or take severance.
Lilly acquired Imclone in 2008 and announced plans to cut its global manufacturing workforce by 5000 by 2011 as it will be one of the companies hit harder by oncoming patent cliff. Coincidentally (perhaps), it had a monumental failure of its lead Alzheimer drug candidate, semagacestat, in Phase III and announced its abandonment yesterday. Likely, a good strategy when the drug actually worsens the patinet's condition in a phase III trial.
5000 - 140 = 4860 to go. And maybe more incentive to look closer at entering the Genzyme bidding?
Posted by Bruce Lehr August 19th 2010.
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