Layoffs, Life Sciences, Antibiotics

Oscient to Shed 32% of Workers

Ryan McBride 2/12/09

Oscient Pharmaceuticals, a Waltham, MA-based drug maker, says it is laying off 32 percent of its total workforce, or about 100 jobs, to conserve cash. The company—which markets fenofibrate (Antara) for high cholesterol and antibiotic gemifloxacin mesylate (Factive) for bronchitis—expects a charge of $2 million in this fiscal quarter related to the layoffs. The cuts, however, are projected to save the firm $8 million annually. Here’s a link to our Boston Layoff Tracker.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.