The Medicines Company brings out the ax, looking to jettison hundreds of jobs in top-to-bottom restructuring – Endpoints News

The Medicines Company CEO Clive Meanwell is circling all the wagons around its late-stage PCSK9 development plans for inclisiran. Clive Meanwell, The Medicines Company The Alnylam partner said today that once the biotech completes an effort to sell off its infectious disease group, the company  which had 410 staffers in February  will chop its remaining…

PE funds, domestic pharma companies eye Orchid Pharma under IBC – Economic Times

Two months after a National Company Law Tribunal (NCLT) issued an order initiating corporate insolvency proceedings against debt-ridden Orchid Pharma, numerous potential suitors, including top private equity players and domestic peers are eyeing the Chennai based company as part of a resolution plan under the provisions of the insolvency and bankruptcy code, multiple sources familiar…

Medicines Co. +8% on restructuring, planned sale of infectious drug business – Seeking Alpha

Medicines Co. (NASDAQ:MDCO) +8% premarket after reporting a smaller than expected Q3 loss and announcing plans to restructure the company, including laying off more than 85% of its workforce. MDCO says the restructuring, which it plans to substantially implement within the next 45 days, will cut headcount to fewer than 60 people. MDCO also expects…

First on ET: RCom may shut its wireless business in next 30 days, employees put on notice period – Times of India

MUMBAI: Reliance Communications (RCom) is believed to be closing down major parts of its wireless business in the next 30 days, blaming among other factors, the creative destruction brought in by new entrant Reliance Jios free voice and cheap data services, and has told its employees that their last date of employment will be November…

Empee Sugars withdraws its insolvency petition – Economic Times

HYDERABAD: Empee Sugars and Chemicals has withdrawn the insolvency petition it filed before the National Company Law Tribunal’s (NCLT) Hyderabad bench after its main lenders agreed to assign their outstanding loans to leading stressed loans buyer Edelweiss Assets Reconstruction Company. Empee Sugars and Chemicals earlier this month submitted before the NCLT that its secured lenders,…