BioMarin Pharmaceutical will reduce its global workforce for the second time this year, as the company continues with its "organizational redesign efforts."
The layoffs will affect about 225 employees, according to BioMarin's SEC filing. According to the drugmaker, the decision comes in connection with its updated strategy for Roctavian's commercial operations and its discontinuation of the development of gene therapy BMN 293, as previously announced in early August.
Roctavian, the first gene therapy for adults with severe hemophilia A, was approved last year. The updated strategy revealed in August was a plan to cut Roctavian’s direct annual expenses in an attempt to make it profitable by the end of next year.
This is the second workforce reduction undertaken by BioMarin this year. The drugmaker axed 170 employees following a strategic review of its R&D portfolio back in May.
According to BioMarin, employees impacted by the most recent layoffs were notified by yesterday and the reductions are expected to be completed by the end of 2024.