MediGene prunes back to promote growth next year
This article was originally published in Scrip
Executive Summary
Rose growers prune back the dead wood each year to ensure strong robust growth for the following season. MediGene, the German biotech, is clearly hoping the horticultural approach will help it get back on a sustainable growth trajectory. This week the company unveiled plans to cut its workforce from 107 to 55 employees and reduce its running costs by some €5 million a year. "These measures will support our efforts to strengthen our pipeline through strategic transactions," MediGene spokesperson Julia Hofmann told Scrip.