Pharma layoffs slow as companies respond to COVID-19 pandemic The rate of layoffs in the U.S. pharmaceutical industry has slowed, with just 32 jobs cut in May compared to 360 last May, according to data from executive outplacement firm Challenger Gray & Christmas. The industry cut no jobs in April, though the total number of job cuts among all industries was the highest that month since January 2002. So far this year, the pharmaceutical industry has cut 951 jobs, compared to 2,596 at this time last year. The slowing of layoffs is likely due to efforts by pharmaceutical companies to respond to the COVID-19 pandemic, including many drug companies launching trials to develop vaccines and treatments, according to STAT. In contrast, across all job industries, COVID-19 was cited as the reason for 984,073 job cuts so far this year, more than 69.5 percent of the total announced job cuts. But COVID-19 was also cited as the reason for industries announcing 32,000 hiring plans in May. The pharmaceutical industry announced 100 hiring plans in May, bringing the yearly total to 660. In March, CVS announced plans to hire 50,000 employees, and Walgreens announced plans to hire 9,500.
Blackstone and Alnylam Close $150 Million R&D Financing to Advance RNAi Therapeutics for Cardiovascular Disease Aug 17, 2020 CAMBRIDGE, Mass.--(BUSINESS WIRE)--Aug. 17, 2020-- Blackstone (NYSE: BX) and Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced the closing of the R&D funding component of the companies’ previously announced $2 billion strategic financing collaboration to accelerate the advancement of RNAi therapeutics. Under the terms of the agreement, Alnylam will receive up to $150 million from Blackstone Life Sciences for the development of Alnylam’s cardiometabolic disease programs vutrisiran and ALN-AGT. The investment includes up to $70 million to support the ongoing HELIOS-B Phase 3 study of vutrisiran in ATTR amyloidosis patients with cardiomyopathy, and up to $80 million to support Phase 2 and Phase 3 development of ALN-AGT, in development for the treatment of hypertension. In April 2020, Blackstone and Alnylam entered into a broad $2 billion strategic financing collaboration anchored by Blackstone’s purchase of 50 percent of royalties owed to Alnylam on global sales of inclisiran, an investigational RNAi therapeutic for the treatment of hypercholesterolemia, currently under review by the U.S. Food and Drug Administration and other regulatory authorities. The strategic financing collaboration is expected to enable Alnylam’s achievement of a self-sustainable financial profile without need for future equity financing, accelerating the commercial potential of Alnylam’s rapidly advancing product portfolio. About RNAi RNAi (RNA interference) is a natural cellular process of gene silencing that represents one of the most promising and rapidly advancing frontiers in biology and drug development today. Its discovery has been heralded as “a major scientific breakthrough that happens once every decade or so,” and was recognized with the award of the 2006 Nobel Prize for Physiology or Medicine. By harnessing the natural biological process of RNAi occurring in our cells, a new class of medicines, known as RNAi therapeutics, is now a reality. Small interfering RNA (siRNA), the molecules that mediate RNAi and comprise Alnylam's RNAi therapeutic platform, function upstream of today’s medicines by potently silencing messenger RNA (mRNA) – the genetic precursors – that encode for disease-causing proteins, thus preventing them from being made. This is a revolutionary approach with the potential to transform the care of patients with genetic and other diseases. About Alnylam Pharmaceuticals Alnylam (Nasdaq: ALNY) is leading the translation of RNA interference (RNAi) into a whole new class of innovative medicines with the potential to transform the lives of people afflicted with rare genetic, cardio-metabolic, infectious, and central nervous system (CNS)/ocular diseases. Based on Nobel Prize-winning science, RNAi therapeutics represent a powerful, clinically validated approach for the treatment of a wide range of severe and debilitating diseases. Founded in 2002, Alnylam is delivering on a bold vision to turn scientific possibility into reality, with a robust RNAi therapeutics platform. Alnylam’s commercial RNAi therapeutic products are ONPATTRO® (patisiran), approved in the U.S., EU, Canada, Japan, Switzerland and Brazil, and GIVLAARI® (givosiran), approved in the U.S., EU and Brazil. Alnylam has a deep pipeline of investigational medicines, including six product candidates that are in late-stage development. Alnylam is executing on its “Alnylam 2020” strategy of building a multi-product, commercial-stage biopharmaceutical company with a sustainable pipeline of RNAi-based medicines to address the needs of patients who have limited or inadequate treatment options. Alnylam is headquartered in Cambridge, MA. For more information about our people, science and pipeline, please visit www.alnylam.com and engage with us on Twitter at @Alnylam or on LinkedIn. About Blackstone Life Sciences Blackstone Life Sciences is a private, global investment platform with capabilities to invest across the life-cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines and medical products that improve patients’ lives.
The freeze will continue as long as the current Sr Director for the new division is in place. That’s one cold bitch!
One, there is no freeze. Two, I’m sorry you didn’t get the job but the Sr Director is an amazing talented woman.
Typical punk move. Gee, I wonder how many times you've called, say, JG or JM bad names on here. And we ALL know that they are deserving of such!
You obviously don’t work here as you would know that several ONPATTRO spots have been filled in the last few weeks. Take off troll.
Keep telling yourself that so you don’t have to feel bad about being a loser. And be nicer to women in the future.
Points of clarification- There is no hiring freeze/a few odd ON openings are still open - two in the West - that should tell you something. The woman to whom you are referring is not qualified for her role however that should not dictate how she is treated - be kind people.
Very valid - not her fault that she isn't qualified - its the people/person who made the decision to put her in that role.
