Heidelberg Pharma Faces Setback: Missed Royalty Payment Leads to Drastic Workforce Reduction
Heidelberg Pharma, a German biopharmaceutical company, has announced a significant restructuring plan following a missed royalty payment, highlighting the volatile nature of the pharmaceutical industry's financial landscape.Ladenburg, Germany-based Heidelberg Pharma revealed plans to lay off approximately 75% of its workforce after failing to secure an expected $70 million royalty payment from HealthCare Royalty. The payment was contingent upon FDA approval of TLX250-CDx, a radiolabeled antibody for clear cell renal cell carcinoma, developed in partnership with Telix Pharmaceuticals.