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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
Fake Weight Loss Drugs: Growing Threat to Consumer Health
October 25th 2024In this episode of the Pharmaceutical Executive podcast, UpScriptHealth's Peter Ax, Founder and CEO, and George Jones, Chief Operations Officer, discuss the issue of counterfeit weight loss drugs, the potential health risks associated with them, increasing access to legitimate weight loss medications and more.
The Transformative Role of Medical Information in Customer Engagement
October 3rd 2024Stacey Fung, Head of Global Medical Information at Gilead Lifesciences, delves into the evolving role of Medical Information (MI) in the pharmaceutical industry. Covering key topics like patient engagement through omnichannel strategies, combating misinformation, and leveraging AI to enhance medical inquiries, the conversation with Stacey highlights MI's critical role in ensuring patient safety and supporting drug development. She also shares her professional journey and tidbits for early career professionals on professional development.
