Friday, March 6, 2015

No Surprise Here: Kenilworth Shutters Various Early Stage R&D Programs At Legacy Cubist Lexington, MA Hub, Post Close

FiercePharma does a nice job of putting the contextual map in place, on these 120 science job eliminations, post the close of Merck's acquisition of Cubist. [Backgrounder, from yours truly, here.]

Anyone who's handled life science M&A in this size range wouldn't be surprised by this development -- but it is still a tough pill to swallow, in Lexington, Massachusetts. Doubly so, for the affected families. A bit from FiercePharma's Damian Garde, quoting the Boston Business Journal, here -- but do go read it all:

. . . .As the Boston Business Journal reports, the company informed employees today that it's backing away from the antibiotic specialist's drug discovery efforts, dialing down operations at Cubist's Lexington headquarters but promising to keep up work on later-stage products. Merck told the BBJ that it plans to keep at least some of Cubist's preclinical candidates in development, transferring them to other R&D sites.

The move marks Merck's first major cuts to Cubist after wrapping up a $9.5 billion buyout in January. Merck expects the acquisition to add about $1 billion to its 2015 revenue, but the pharma giant is apparently less than committed to following through on Cubist's plans for major spending on antibiotic R&D. . . .

Let's hold a good thought for the affected families. . . And so, do drive safely, one and all. . . good ju ju goes out to you all, this Friday. Namasté, and may The Infinite ride with each of you.

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