Leading the Way in Life Science Technologies

GEN Exclusives

More »

GEN News Highlights

More »
Jul 31, 2012

Dendreon Restructuring to Eliminate 600 Jobs

  • After reporting a slight decrease in Provegene sales, Dendreon announced a restructuring, and closure of its New Jersey manufacturing site. Shutdown of the Morris Plains plant will result in a loss of 600 jobs.

    Provenge sales were $80 million in the second quarter, down from $82 million in the first quarter due to sales force turnover and cancelation of infusions, according to Leerink Swann.

    The company hopes to reduce costs by approximately $150 million annually as a result of the restructuring. Provenge manufacturing will be handled by the company’s existing facilities in Union City, Georgia, and Seal Beach, California.

    “We are confident in the long-term opportunities for Provenge,” said John H. Johnson, chairman, president, and CEO. “We believe the strategic restructuring plan announced today will accelerate our path to profitability and future growth as we execute on our core mission of providing Provenge to patients around the world. By re-configuring our manufacturing model, strengthening our commercial organization and lowering our overall cost structure, we believe we can deliver value to our shareholders and our physician customers and their patients.”



Related content

Be sure to take the GEN Poll

Cancer vs. Zika: What Worries You Most?

While Zika continues to garner a lot of news coverage, a Mayo Clinic survey reveals that Americans believe the country’s most significant healthcare challenge is cancer. Compared to other diseases, does the possibility of developing cancer worry you the most?

More »