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Article: DRUGMAKER DURAMED LAYS OFF 94.(BUSINESS)
- Article from:
- The Cincinnati Post (Cincinnati, OH)
- Article date:
- October 31, 1996
- Author:
CopyrightCOPYRIGHT 1996 The Cincinnati Post. All rights reserved. Reproduced with the permission of Dialog LLC by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Cliff Peale Post staff reporter
Duramed Pharmaceuticals Inc. laid off 94 workers Wednesday as it continued to hope for federal approval of a highly touted conjugated estrogen drug.
The Pleasant Ridge drugmaker has waited more than a year for the Food and Drug Administration to rule on its application for a generic version of Premarin, the nation's most-prescribed drug. That wait has taken a toll on Duramed's finances; last week, it predicted a third-quarter operating loss of at least $5 million.
In an effort to cut costs and rescue product development of other drugs, Duramed on Wednesday resorted to its second round of layoffs this ...