Vertex Pharmaceuticals is laying off 125 employees in Rhode Island after discontinuing its VX-264 Type 1 diabetes study due to unsatisfactory efficacy results. The company will consolidate its operations into one building while providing severance and support to affected employees. Despite this setback, Vertex maintains a commitment to developing transformative therapies for Type 1 diabetes through its Zimislecel program and has experienced overall growth in employee numbers, increasing from 5,400 to 6,100 over the past year.
Business Vertex says the layoffs are due to the discontinuation of a Type 1 diabetes study.
The pharmaceutical company Vertex is laying off 125 employees in Rhode Island and consolidating offices, following the discontinuation of a Type 1 diabetes study.
Devlin says Vertex remains committed to 'bringing transformative therapies' to people living with Type 1 diabetes and is progressing another Type 1 diabetes cell therapy program, Zimislecel.
Despite the layoffs, Vertex has been growing its employee count.
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