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Intercell to Cut Jobs and Research Budget

Published: June 8, 2011; 16:12 · (Vindobona)

The share price plunged by more than 30% after the Austrian pharmaceutical company had announced the termination of a vaccine study.

Intercell to Cut Jobs and Research Budget / Picture: © Intercell

Thomas Lingelbach, the company’s new CEO, has announced to take a totally new course after drastic setbacks in the past. “We have been wading through the biotech-vale of tears and are now starting over again”, he said on Wednesday at the presentation of the corporate strategy. In the future Intercell will only focus on promising programs and reduce costs by more than 50% compared…

This article includes a total of 299 words.

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