The pharma industry has been facing various challenges in 2023, such as the aftermath of the COVID-19 pandemic, the rising costs of drug development, the increasing competition from generics and biosimilars, and the changing regulatory and reimbursement environment. As a result, some pharma companies have resorted to layoffs to reduce expenses, streamline operations, and focus on core growth areas.
| Date | Company Name | Number of Layoffs | Reasons for Layoff |
| Sept 28 | PTC Therapeutics | 25% of workforce | Restructuring and focus on R&D programs |
| Sept 26 | Galecto | 70% of workforce | Lead lung disease asset failure and cash runway extension |
| Sept 26 | AM-Pharma | Not specified | Workforce realignment after Phase III trial failure |
| Sept 26 | Poxel | Significant(There are 15 employees at Poxel compared to 37 at the end of December 2022) | Financing for Phase II studies and resource constraints |
| Sept 22 | ImmunityBio | ~50 employees | FDA approval failure and manufacturing issues |
| Sept 19 | NightHawk Biosciences | 13 employees | Pivot to contract manufacturing for cost savings |
| Sept 19 | Fresh Tracks Therapeutics | Most employees | Liquidation and dissolution due to strategic shift |
| Sept 18 | Histogen | Most employees | Closure due to inability to enhance stockholder value |
| Sept 18 | Kinnate Biopharma | 70% of employees | Reprioritization based on cash runway and pipeline focus |
| Sept 15 | Lyndra Therapeutics | Nearly a quarter | Outsourcing and partnership strategy for future products |
| Sept 12 | 2seventy bio | 40% of staff (176 employee) | Difficult macro environment, program delays, and cost savings |
| Sept 11 | Enlivex Therapeutics | 50% of workforce | Focus on inflammatory and autoimmune indications |
| Sept 6 | CSL Vifor | 85 employees | U.S. commercial business changes and synergy requirements |
| Sept 5 | Infinity Pharmaceuticals | CEO, CMO, and more | Ongoing restructuring and merger breakdown |
Also Read: August Layoffs
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