Plus, news about Eiger BioPharmaceuticals:
Sumitomo cuts workers: The Japanese pharma is laying off 53 people in Marlborough, MA, according to an August 1 WARN notice. The layoffs will happen at the end of September. The company made cuts in March, around 400 employees, after lackluster sales and slow growth.
Galderma and L’Oréal’s new deal: L’Oréal is getting a 10% stake in the Swiss pharma company. Both signed a memorandum of understanding to partner on dermatology R&D.
Eiger divests more assets: Eiger founder Jeffrey Glenn, via his other company Eiger InnoTherapeutics, is buying peginterferon lambda and lonafarnib from recently bankrupt Eiger for at least $6.2 million plus other potential costs. Eiger recently sold its Phase 3 GLP-1 avexitide to Amylyx.