OSI to reduce U.K. workforce

OSIP will consolidate its U.K.-based oncology R&D activities into its New York locations in order to save about $10-$15 million in annual operating expenses. The company plans to cut about 90 employees working on oncology in the U.K. However, OSIP estimates that its total headcount will remain at about 500 as it expands its sales force in preparation for the launch of Tarceva erlotinib to treat advanced non-small cell lung cancer (NSCLC). An NDA for the small molecule inhibitor of the epidermal growth factor (EGF) receptor is under FDA review, and the compound is partnered with Genentech (DNA) and Roche (SWX:ROCZ). ...