Idorsia’s Restructuring Efforts Continue: Layoffs On Track Despite Delayed Sale of Hypertension Drug Tryvio

Restructuring Plan:
Idorsia is undergoing a restructuring process aimed at achieving financial sustainability, which includes reducing approximately 270 positions globally, mainly in research and development and support functions at its Swiss headquarters1 2 5.

Sale of Tryvio:
The company is negotiating the sale of global rights to its hypertension drug Tryvio (aprocitentan), but the process has fallen behind schedule. Despite this, layoffs are proceeding as planned3 5.

Financial Performance:
Idorsia reported a net loss of $337.8 million in 2023 and is focusing on cost-containment measures to stabilize its financial performance2 4.

Timeline:
The company aims to conclude the restructuring by the end of 2024, with the cost reduction becoming fully effective by Q2 20251 5.

Impact on Employees:
Idorsia is committed to minimizing redundancies through natural attrition, retirement, and transfers, including the possibility of some employees continuing to work on Tryvio if a final agreement is reached5.

Product Developments:
Despite financial challenges, Idorsia has made progress in product development, including the commercial availability of Tryvio in the US and the approval of QUVIVIQ for insomnia treatment in Japan4.