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Javelin Pharmaceuticals cuts workforce by 15 per cent

US-based, speciality pharmaceutical company Javelin has announced it will cut its workforce by 15 per cent in an attempt to reduce costs

US-based, speciality pharmaceutical company Javelin has announced it will cut its workforce by 15 per cent in an attempt to reduce costs.

The company applies innovative proprietary technologies to develop new drugs and improve formulations of existing drugs that target current unmet and underserved medical need in the pain management market.

Commenting on the workforce reduction, Martin Driscoll, CEO said: "We have taken difficult, but necessary actions, to reduce fixed costs across the organisation to conserve and extend valuable development dollars. Today's organisational changes are being effected in support of our priorities to file high quality regulatory submissions in the US and the EU for Dyloject and Ereska in 2009, and consummate successful commercialisation partnerships for our late-stage acute pain care product portfolio."

Further details will be announced with the company's 2008 year-end results.

18th November 2008

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