Apellis Set to Reduce Workforce by 25% in Corporate Restructuring
Moves expected to save company approximately $300 million through 2024.
Hoping to position itself for long-term success, Apellis Pharmaceuticals, Inc. has revealed a corporate restructuring with the aim of driving growth of Syfovre® (pegcetacoplan injection) and Empaveli® (pegcetacoplan). As part of the reorganization, the company intends to layoff around 25% of its current workforce and reduce expenses, resulting in up to $300 million in total cost savings through 2024.
“We are taking important actions to strengthen our ability to invest in growth opportunities and support the Company's long-term success, including maximizing the significant opportunity with Syfovre,” said Cedric Francois, MD. PhD, co-founder, CEO, Apellis, in a company press release. “As a more focused organization, we believe these initiatives put Apellis in a stronger position to create value for shareholders and continue delivering on our mission for patients now and in the future.”
Reference: Apellis Announces Corporate Restructuring to Drive Growth of SYFOVRE® (pegcetacoplan injection) and EMPAVELI® (pegcetacoplan), Positioning Company for Long-Term Success. Globe Newswire. August 29, 2023. Accessed August 29, 2023. https://www.globenewswire.com/news-release/2023/08/29/2733224/0/en/Apellis-Announces-Corporate-Restructuring-to-Drive-Growth-of-SYFOVRE-pegcetacoplan-injection-and-EMPAVELI-pegcetacoplan-Positioning-Company-for-Long-Term-Success.html
Navigating Distrust: Pharma in the Age of Social Media
February 18th 2025Ian Baer, Founder and CEO of Sooth, discusses how the growing distrust in social media will impact industry marketing strategies and the relationships between pharmaceutical companies and the patients they aim to serve. He also explains dark social, how to combat misinformation, closing the trust gap, and more.
The Misinformation Maze: Navigating Public Health in the Digital Age
March 11th 2025Jennifer Butler, chief commercial officer of Pleio, discusses misinformation's threat to public health, where patients are turning for trustworthy health information, the industry's pivot to peer-to-patient strategies to educate patients, and more.
