Replidyne cuts 35 pct jobs, suspends development of drug

Mon Dec 10, 2007 4:26pm EST

Dec 10 (Reuters) - Biopharmaceutical company Replidyne Inc RDYN.O said it suspended the development of its topical antibiotic, codenamed REP8839, and cut about 35 percent jobs as a part of its corporate restructuring. Replidyne, which expects an expense of about $1.5 million mainly related to severance payments, said the job cuts were mostly in the administrative, clinical, regulatory and commercial functions.

The company would continue its ongoing late-stage trial for its antibiotic faropenem, which was previously rejected by U.S. regulators. (Reporting by Esha Dey in Bangalore; Editing by Gopakumar Warrier)