logo
Share SHARE
FONT-SIZE Plus   Neg

Cardiome Pharma To Axe Jobs - Quick Facts

Cardiome Pharma Corp. (CRME,COM.TO) said it is undertaking a significant workforce reduction, following the recently announced termination of Merck's development efforts relating to the vernakalant oral program. The workforce reduction eliminates all positions focused on internal research activities along with certain supporting functions. The personnel reduction would decrease the total number of employees by some 85%.

The company is likely to incur up to $5.0 million in severance and other charges related to this restructuring over the remainder of the year.

Previously, Cardiome Pharma had announced that one of Hunter's first tasks as interim CEO would be to review all current activities of the company with the immediate objective of optimizing the spend rate. Today's announcement reflects completion of this objective.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Two major hospitals Ascension Health and Providence St. Joseph Health are in discussion for merger to create one of the largest hospital chain, reported Wall Street Journal. The combination is expected to have 191 hospitals with an annual revenue of around $45 billion. The new entity would dethrone America's largest hospital operator Hospital Corporation of America that owns 177 hospitals and reve Uber has mistakenly charged a customer in Toronto an astounding C$18,518.50 for a five-mile, 21-minute ride. In U.S. dollar terms, the amount would be more than $14,400. The five-mile ride should have only cost between C$12 and C$16. French baby formula maker Lactalis has issued a major international product recall over fears of salmonella contamination. French health authorities have ordered the dairy company to stop selling hundreds of products worldwide, after 26 infants fell ill with salmonella poisoning in France. Salmonella infections can be life-threatening mainly for young children.
comments powered by Disqus
Follow RTT