Biotech, Alkermes, Life Sciences

Alkermes Cuts Jobs After Lilly Deal Ends

Rebecca Zacks 3/19/08

A week and a half after learning that Eli Lilly was ending a joint project to develop inhaled insulin, Alkermes (NASDAQ: ALKS) is cutting some 150 jobs and closing a manufacturing plant, the Cambridge, MA-based firm announced today. The job cuts represent a reduction of about 18 percent in the firm’s staff.