Source Pravda.Ru

Nastech Pharmaceutical Co. Inc to cut 50 jobs

Previously announced corporate restructuring seems to have implementation in life. Nastech Pharmaceutical Co. Inc announced Tuesday February 12, 2008 that it plans to cut 50 jobs.

This action will allow driving key clinical development and RNAi programs forward in a more efficient manner for the benefit of the company’s shareholders, and it will also save about $11 million during the 2008 fiscal year.

Nastech Pharmaceutical Co. Inc and its partners develop products for multiple therapeutic areas including osteoporosis, obesity, diabetes, autism, respiratory diseases and inflammatory conditions.

Nastech's research and development programs focus on three primary areas that drive the discovery and development of safe and effective pharmaceuticals. These areas include tight junction modulation science, intracellular RNAi delivery and nasal drug delivery.