Thus, while it is unclear how certain provisions of the IRA will be implemented, the IRA will likely have a significant impact on the pharmaceutical industry.
All entries for: Biologic
May 15, 2026
Takeda
Layoffs
Tokyo
10,000+ employees
To cut back on costs, Takeda is rolling out a sweeping “transformation program” that will streamline corporate operations and see some 4,500 employees let go in fiscal year 2026, according to an earnings presentation. That number represents less than 10% of total roles globally and does not reflect hiring plans, a company spokesperson told BioSpace in an emailed response on May 13.
“Right now, we have 2,200 open roles globally and we expect to create new jobs throughout the year, which we are prioritizing filling with internal candidates,” the spokesperson said.
The layoffs will look different across the organization and will be phased according to unique business needs and country requirements, according to the spokesperson. They confirmed that the cuts include an estimated 247 roles in Massachusetts and 387 in other states outlined in a March Worker Adjustment and Retraining Notification (WARN) Act notice.
Disease Area: Dermatology, Immune Diseases, Multiple, Neurological Diseases, Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule
May 14, 2026
First Tracks Biotherapeutics, Inc.
Neutral Outlook
San Diego, CA
51-200 employees
Thus, it is unclear how the IRA will be implemented but it will likely have a significant impact on the pharmaceutical industry and the pricing of our products and product candidates.
Disease Area: Chronic Disease, Immune Diseases
Drug Type: Biologic
May 14, 2026
SUTRO BIOPHARMA, INC.
Neutral Outlook
South San Francisco, CA
201-500 employees
Thus, while it is unclear how the IRA will be implemented, it will likely have a significant impact on the pharmaceutical industry and our product candidates.
Disease Area: Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule
May 14, 2026
Candel Therapeutics, Inc.
Neutral Outlook
Needham, Massachusetts
51-200 employees
While we do not believe that the IRA or its effects will impact our ability to obtain patents in the near future, we cannot be certain that it will not affect our patent strategy in the long run.
Disease Area: Immune Diseases, Oncology
Drug Type: Biologic
May 14, 2026
Valneva
Layoffs
Saint-Herblain, Pays de la Loire
501-1,000 employees
Specialty vaccine maker Valneva will trim its global workforce by 10% to 15% as it focuses resources on its base business and key strategic projects, the biotech announced May 13. The France-based company had 674 employees globally, including 22 in Bethesda, Maryland, as of Dec. 31, according to an SEC filing, meaning the layoffs could affect roughly 67 to 101 people.
Valneva expects the cuts will reduce 2026 operating expenses by 25% to 35% when compared to 2025.
The restructuring comes as the biotech reports a Q1 revenue decline. Total revenue was 30.9 million euros ($36.1 million), down from 49.2 million euros ($57.6 million) in the first quarter of 2025. Valneva attributed the dip in part to a planned winddown of third-party sales. The company also noted it is adjusting down its 2026 sales and revenue guidance in part because of “an emerging adverse trend in travel vaccine uptake across key markets, driven by geopolitical factors.” Valneva is revising the product sales guidance range from between 145 million euros and 160 million euros ($170 million to $187 million) to between 135 million euros and 150 million euros ($158 million to $174 million).
Valneva’s last known restructuring was in 2025. The biotech announced in November it would shutter its Nantes, France, site and consolidate operations in Lyon. That move left 30 employees jobless, a spokesperson told Fierce Biotech at the time.
Disease Area: Infectious Diseases
Drug Type: Biologic
May 13, 2026
Spero Therapeutics, Inc.
Negative Outlook
Cambridge, Massachusetts,
1-50 employees
Accordingly, while it is currently unclear how the IRA will be effectuated, we cannot predict with certainty what impact any federal or state health reforms will have on us, but such changes could impose new or more stringent regulatory requirements on our activities or result in reduced reimbursement for our products, any of which could adversely affect our business, results of operations and financial condition.
Disease Area: Infectious Diseases, Rare Diseases
Drug Type: Biologic
May 12, 2026
Nkarta, Inc.
Neutral Outlook
South San Francisco, California
51-200 employees
The effect of the IRA on our business and the healthcare industry in general is not yet known, but we continue to evaluate its potential impact.
Disease Area: Chronic Disease, Immune Diseases, Rare Diseases
Drug Type: Biologic