Under the strategic adjustment, the pharmaceutical company plans to fire 50% of its executives

Zymeworks, a clinical-stage biopharmaceutical company, has released key strategic priorities and outlook announcements for 2022
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The announcement shows that as of December 31, 2021, the company has about $250 million in cash, cash equivalents and short-term investments, which will support Zymeworks' operations for at least 2022
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Now, with cash reserves dwindling and the need to cut costs, the company has decided it will let 50% of its executives go and cut at least 25% of its workforce by the end of 2022
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A total of 10 senior executives left, including the chief scientific officer, chief commercial officer and chief personnel officer
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It is understood that the decision was made by Zymeworks' newly appointed CEO on January 5 under a key strategic adjustment
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Notably, Zymeworks had 455 full-time employees as of September last year, and the 25% layoff means about 100 people will lose their jobs
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But while Zymeworks has taken a lot of cost-cutting measures, it's arguably focused on developing key product candidates
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It is reported that there are currently two important product candidates in Zymeworks' product pipeline: the HER2-targeting dual-antibody zanidatamab (ZW25) and the HER2-targeting bispecific antibody-drug conjugate (ADC) ZW49
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In addition to Zymeworks, some pharmaceutical companies have recently announced layoffs
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Large multinational pharmaceutical company Pfizer is expected to reduce its U.
S.
sales force after the outbreak, according to Reuters
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According to the report, this personnel change is because Pfizer is developing into a biopharmaceutical company that focuses more on innovation, and will change the way it interacts with medical business personnel in the era of gradual digitalization.
After the change, it will ensure that it has the right resources to Meet the changing needs of the market
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However, in this statement, Pfizer did not disclose the specific staff reduction number.

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According to the analysis, in the context of accelerating changes in the pharmaceutical landscape, layoffs, personnel changes, and business adjustments seem to have become normal actions for both multinational and local pharmaceutical companies
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In fact, since the beginning of this year, in addition to layoffs, there have been more changes in executives of pharmaceutical companies
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For example, on the 19th, Seri Medical issued an announcement stating that Liu Yuan applied to resign from the company's board secretary and securities affairs representative due to personal reasons.
After resigning from the above-mentioned positions, he still serves as the deputy general manager.
The application will take effect from the date of delivery to the board of directors
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On the 18th, Fresenius Kabi announced a personnel appointment to its employees.
From February 1, 2022, Zhuang Wenyan, Executive Vice President of Fresenius Kabi China and General Manager of Fresenius Kabi Huarui Pharmaceuticals, Temporarily lead the fee card business in China
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On the 13th, the "Announcement on the Resignation of Directors, Senior Managers and Core Technicians" issued by Sunshine Guojian also showed that recently, Mr.
ZHU ZHENPING, the company's director/deputy general manager/R&D person in charge/core technician, has been adjusted due to work adjustment.
, applied to resign from the position of non-independent director/deputy general manager/head of R&D of the fourth board of directors of the company, and will no longer hold any position in the company after resignation
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In general, the layoffs, personnel changes, and business adjustments of pharmaceutical companies are actually one of the responses made by pharmaceutical companies in response to the changes in the future pharmaceutical industry
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In the future, with the further deepening of the reform of the pharmaceutical industry and the continuous intensification of competition among enterprises, the above situations will become more frequent
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