So our European Back pain partner Grunenthal laid off 191...

So our European Back pain partner Grunenthal laid off 191 employees in research and development. This was a few weeks before our partnership announcement
I am guessing those employees were working on old technology. Now I think Grunenthal are going all in with the Mesoblast partnership.

This was a press release before our deal was finalized .Aug 13 2019

Agreement on realignment of the research and development organization at GrünenthalAachen, August 13, 2019 - The management and works council of Grünenthal have agreed on a package of measures to reorganize the company's research and development area. The reorganization includes the reduction of 191 full-time positions in research and development and 10 full-time positions in finance. Operational layoffs should be avoided if possible. The company plans to implement the layoffs through internal transfers, partial retirement solutions and a volunteer program. The latter offers financial incentives and external advice to help employees change jobs.“Research and development remains the core of our strategy. However, we have to change the way we conduct research so that we can continue to develop new medicines for patients in the future, ”explains Grünenthals CEO **riel Baertschi.The company announced in May that it would realign its research activities. The aim is to expand core competencies, for example with a view to biologicals or cell and gene therapy. The company will also focus more and focus on research areas such as peripheral neuropathic pain (PNP), chronic postoperative pain, chronic back pain and osteoarthritis. “The variety of promising therapeutic approaches available today makes it impossible for a medium-sized company to maintain its own capacities in every area. That is why we will carry out research projects even more closely with partners in the future, ”continues Baertschi.About GrünenthalGrünenthal is a global leader in the treatment of pain and related diseases. As a family-owned research-based pharmaceutical company, we havemany years of experience in innovative pain therapy and the development of the latest technologies for patients worldwide. We want to improve the lives of patients with innovations. We are committed to realizing our vision of a world without pain.Grünenthal has its corporate headquarters in Aachen and is represented by companies in around 30 countries in Europe, Latin America and the United States. Our products are available in more than 100 countries. In 2018, Grünenthal employed around 4,900 people and generated sales of 1.3 billion euros.More information is available at www.grunenthal.comFollow us on:LinkedIn : Grunenthal GroupXING : Grünenthal GmbHTwitter : @grunenthalgroupInstagram : grunenthal Agreement on realignment of the research and development organization at Grünenthal (pdf, 80.1 KB)Štěpán KráčalaHead Global CommunicationsGrünenthal GmbHAachenEmail [email protected] +49 241 569-1335Kerstin neckHead Editorial Management and Media RelationsGrünenthal GmbHAachenEmail [email protected] +49 (0) 241 569-2710This website is for all those with an interest in the global business of GrünenthalInitiativesCaring for change Grünenthal PRO Societal Impact of Pain EFIC-Grünenthal Grant ServicesFollow us on LINkedIN Follow us on Instagram Follow us on Twitter Contact Reporting side effects Membershipshttps://efpia.eu/ IFPMA Grünenthal 2020 © General Terms and Conditions Terms of Use Imprint Privacy Statement Privacy Statement HCP