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DBL%20Hendrix%20small.png College chemistry, 1983

Derek Lowe The 2002 Model

Dbl%20new%20portrait%20B%26W.png After 10 years of blogging. . .

Derek Lowe, an Arkansan by birth, got his BA from Hendrix College and his PhD in organic chemistry from Duke before spending time in Germany on a Humboldt Fellowship on his post-doc. He's worked for several major pharmaceutical companies since 1989 on drug discovery projects against schizophrenia, Alzheimer's, diabetes, osteoporosis and other diseases. To contact Derek email him directly: derekb.lowe@gmail.com Twitter: Dereklowe

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In the Pipeline: Don't miss Derek Lowe's excellent commentary on drug discovery and the pharma industry in general at In the Pipeline

In the Pipeline

« Nasty Drug Molecules: Amphotericin B | Main | Lilly's Solanezumab: Did It Actually Work? »

October 8, 2012

Targacept Cuts Way Back

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Posted by Derek

It hasn't been good over at Targacept. They had a big antidepressant failure a while back, and last month ended development of an ADHD drug, the nicotinic acetylcholine receptor ligand TC-5619.

They cut back staff back in the spring, and the CEO departed. Now the expected has happened: the company has apparently laid off everyone in research, and is conserving what cash it has to try to get something to the deal-making point. A sad, but familiar story in this business. . .sometimes companies come back after this point, and sometimes the event horizon turns out to have been passed.

Comments (5) + TrackBacks (0) | Category: Business and Markets | The Central Nervous System


COMMENTS

1. entropyGain on October 8, 2012 1:27 PM writes...

"event horizon"
Excellent metaphor - especially when relativistic effects take hold of the ship crossing it and time seems to stretch from the perspective of the passengers...

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2. David Formerly Known as a Chemist on October 8, 2012 1:47 PM writes...

I can't imagine there are many alternative career opportunities for the laid-off scientists in that biotech mecca known as Winston-Salem, NC. And the RTP area is about as dry these days. It's a tough industry to be in, that's for sure.

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3. Anonymous on October 9, 2012 8:40 PM writes...

How about med Chem. Any losses there?

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4. Anonymous on October 9, 2012 8:40 PM writes...

How about med Chem. Any losses there?

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5. Anonymous on October 10, 2012 9:16 PM writes...

#3, nothing left.

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