BioMarin’s decision to scale back its gene therapy ambitions will result in about 225 employees losing their jobs, the biotech disclosed late Wednesday.
The layoffs, which are tied to “organizational redesign efforts,” are expected to be completed by the end of 2024, BioMarin said in a filing, and all staffers being laid off were notified by Aug. 28. At the end of 2023, the company had 3,401 employees worldwide.
Alexander HardyThe California company is navigating a time of big transition. Amid a bumpy rollout for Roctavian — the first-ever gene therapy approved for hemophilia A — new CEO Alexander Hardy announced earlier this month that BioMarin will narrow its commercial focus to a few countries, stop lifecycle development and lower manufacturing expenses. The company also stopped development of a separate preclinical gene therapy.
But changes are coming: Last week, BioMarin introduced two prominent figures to the C-suite, bringing in Roche vet James Sabry to lead business development and Amgen rare disease expert Greg Friberg as R&D chief.
Hardy has pledged to share more about BioMarin’s long-term strategy — including a decision on Roctavian’s future — by its investor day on Sept. 4.