NitroMed thins out R&D
Executive Summary
NitroMed eliminates roughly 30 research and development positions effective March 31. The restructuring is a cost-cutting measure in line with an "increased focus on sales and marketing," the firm says. The move comes just a week after the exit of the company's CEO and CFO as the firm struggles with sluggish sales of its niche heart failure drug BiDil (1"The Pink Sheet" March 27, 2006, p. 14). NitroMed officials say the firm will continue to focus on other nitric-oxide enhancing drugs, including an extended-release formulation of BiDil (isosorbide/hydralazine)...
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