Organogenesis, a regenerative medicine company, is cutting hundreds of jobs jobs as part of large reorganization in the face of Medicare's decision to decrease what it's paying for Organogenesis' wound-healing medicine Apligraf. A spokesperson for Organogenesis confirmed to FierceBiotech today that Organogenesis is scaling back its research costs, with an unspecified number of layoffs being made across pretty much all departments outside of manufacturing and marketing.
Organogenesis started handing out 60-day severance pay last week to everyone (except the director and two managers) in R&D and all but four positions in medical and clinical. Organogenesis executives discussed cutting up to 200 positions in the reorganization, according to the source, though final numbers are still hard to come by.