The transformation into a company focused on clinical development of pharmaceuticals has now been completed and Medivir gives a project update
Stockholm, Sweden — Medivir AB (Nasdaq Stockholm: MVIR) today announces that the transformation to focus the company’s internal resources on its clinical development projects has now been completed. Redundancies, mainly within research and administration, are reducing the number of employees from 75 to 17. This will cut the company’s cost base by approximately two thirds, thus freeing up significant resources for the development projects. The new organization will retain the company’s broad competence and extensive experience within the fields of drug development and business development.