Nabi Biopharmaceuticals (NABI) to Create Second Business Unit
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Nabi Biopharmaceuticals (Nasdaq: NABI) has created the second of its two planned strategic business units (SBU), Nabi Pharmaceuticals. Nabi Pharmaceuticals is responsible for the NicVAX® (Nicotine Conjugate Vaccine) and StaphVAX® (Staphylococcus aureus Polysaccharide Conjugate Vaccine) development programs, as well as for the continuing milestone-related development obligations following the sale of PhosLo® (calcium acetate).
In connection with the reorganization required to support the business strategy of the new SBU, the company eliminated 33 positions in its Rockville, Maryland research and development facility. This reduction - approximately 5 percent of the company's total current workforce - is expected to yield approximately $3.3 million in savings on an annualized basis.
In connection with the reorganization required to support the business strategy of the new SBU, the company eliminated 33 positions in its Rockville, Maryland research and development facility. This reduction - approximately 5 percent of the company's total current workforce - is expected to yield approximately $3.3 million in savings on an annualized basis.
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