Bluebird Bio

History

2024:25% staff cut due to lack of money

On September 24, 2024, the American biotechnology company Bluebird bio announced a reorganization aimed at improving its financial situation. The initiated program involves a reduction in the number of personnel by about 25%.

Massachusetts-based Bluebird bio is developing gene therapy technologies. In particular, she produces Zynteglo - one of the most expensive drugs in the world for beta-thalassemia, an inherited blood disease. The cost of one-time therapy is $2.8 million. Another product of the company is Lyfgenia, intended for the treatment of sickle cell anemia: this is hereditary hemoglobinopathy associated with such a violation of the structure of the hemoglobin protein, in which it acquires a special crystalline structure. In this case, the cost of treatment is $3.1 million. The third Bluebird bio drug is Skysona at a price of $3 million for the treatment of cerebral adrenoleukodystrophy (a rare brain disease in children).

𝓲

Bloomberg

According to Reuters, as of June 2024, Bluebird bio had about 375 people. Thus, as part of the restructuring, approximately 95 employees will lose their jobs. This measure is expected to reduce operating costs by 20% by the third quarter of 2025. Dismissed workers will receive monetary compensation and other payments due. The costs associated with the reorganization are estimated at $3.7 million.

We are taking decisive measures aimed at optimizing the cost structure and raising additional capital necessary to unlock our commercial potential. The decision to reduce the number of employees to support a more focused set of priorities comes after a detailed analysis of the company's needs and capabilities, said Bluebird bio CEO Andrew Obenshain[1]

Notes