AVEO Pharmaceuticals to Slash 62% of Workforce

Source: PharmaManufacturing.com

Jun 05, 2013

Bloomberg

Aveo Pharmaceuticals Inc., which failed to win the backing of U.S. regulatory advisers last month for its experimental kidney cancer drug, said it will cut about 140 jobs in a restructuring to save $190 million in the next two years.

The job reductions are about 62 percent of Cambridge, Massachusetts-based Aveo’s workforce, the company said today in a statement. Read the full story