Downsizing the Prescription for Danbury Drug Manufacturer

A Danbury company has laid off an undisclosed number of employees this week, the third round of cuts in 2015.

According to an article in the Danbury News Times, drug manufacturer MannKind confirmed the layoffs as the company’s stock hit a 52-week low.

CFO Matt Pfeffer told the News Times that the job cuts were part of a continuing effort to make the company reflect demands and needs.

Pfeffer said the corporation closed its Paramus, N.J., facility and moved some functions from Valencia, Calif., to the Danbury facility.

Part of the problem for the company, the News Times reported, were that sales of Afrezza, an inhaled form of insulin, which the company’s primary drug, were not good as was hoped.

For more on this story, read the Danbury News Times here.

Photo Credit: Screenshot of MannKind’s website.