BioCentury
ARTICLE | Company News

Bellus Health sales and marketing update

April 11, 2011 7:00 AM UTC

Bellus Health restructured and will reduce headcount by an additional 8 (44%) to 10 by the end of the quarter in order to save cash. Bellus had 34 employees in August 2010, when it began its ongoing restructuring efforts. The company has liquidated its European and U.S. facilities and moved all operations to Canada. Bellus said the restructuring is expected to reduce operating costs by about C$1.4 million ($1.5 million) annually. Bellus also signed a new lease for less space at its current facility, which the company said is expected to save about C$4.5 million ($4.7 million) annually. ...