Theravance Biopharma Inc., headquartered in South San Francisco, will cut 14 percent of its workforce in a cost-saving move as it works to launch one drug and expand other drugs into clinical trials, the San Francisco Business Times reports.
The job cuts will affect 49 employees in early research, manufacturing and sales. They will receive severance.
The cuts speak to the high cost of developing drugs, which often is upward of $1 billion, and how companies attempt to spread out the cash among a broad portfolio of programs.