ARTICLE | Company News

Columbia Laboratories genitourinary news

March 5, 2012 8:00 AM UTC

Columbia reduced headcount by 10 (42%) to 14 to save cash. Columbia said the reduction, which comprises mostly R&D and administrative positions, is expected to save over $1.5 million annually. The company said it is evaluating all strategic options and will update investors on its March 8 earnings call.

The announcement comes after Watson Pharmaceuticals Inc. (NYSE:WPI, Parsippany, N.J.) said it received a complete response letter last week from FDA for an NDA for Prochieve vaginal progesterone gel to reduce the risk of preterm birth in women with short uterine cervical length in the mid-trimester of pregnancy. In 2010, Columbia sold its progesterone programs, including U.S. rights to the gel, to Watson. Last month, Columbia transferred to Watson regulatory responsibility for the gel and the NDA for the preterm birth indication. Watson markets the vaginal progesterone gel delivered via the Bioadhesive Delivery System as Crinone in the U.S. to treat infertility in women with a progesterone deficiency and for secondary amenorrhea (see BioCentury, Feb. 20). ...