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Karo Bio, Pharmexa Cut Staff, Shift Focus To Development

By Cormac Sheridan

Wednesday, February 5, 2003
Two Scandinavian biotechnology companies unveiled restructuring plans last week, adding to the growing list of European firms that are cutting scientific staff in response to the weak market. Each is articulating a similar message. Pharmexa A/S wants to focus more on development and reduce its research activity, while Karo Bio AB wants more chemists on board. As a first step toward attaining this goal, it is laying off biologists. (BioWorld International)

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