Affymax Mulls Bankruptcy After Anemia Drug Recall

Law360, New York (March 19, 2013, 2:31 PM EDT) -- Drugmaker Affymax Inc. said Monday that it was laying off 75 percent of its workforce and considering bankruptcy after the recall of its only pharmaceutical product, anemia drug Omontys.

In a company statement and related filings with the U.S. government, the company said last month’s Federal Drug Administration recall of the drug had significantly drained its resources and forced the company to place most of the responsibility for investigating the recall to its partner Takeda Pharmaceutical Co.

“The company is undertaking an ongoing significant restructuring effort...
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