[copperpress-advertserve-ad-reload zone="3"]
ARCHIVED  November 5, 1999

Atrix trims workforce

FORT COLLINS — Atrix Laboratories Inc., which recently hired Lehman Brothers Inc. to help stave off its financial woes, eliminated 13 positions as part of a restructuring plan aimed at cutting costs. The labor cut represents an estimated 12 percent reduction in Atrix’s work force and affects employees in all departments.

Atrix, the maker of Atridox, a gum disease treatment, had a profitable year in 1998 but has suffered losses this year. In its third quarter results, Atrix posted revenue of $1.6 million down, from $5.8 million during the same period of 1998. The company also recorded a net loss of $3.5 million.

The company will likely lose $16 million in 1999, partly because of lower than expected revenues from its main product, Atridox.

Atrix hopes the restructuring program will cut annual expenses by $1.5 million for the year 2000. Although the plan took effect immediately, Atrix does not expect an impact on expenses for 1999.

Other measures Atrix is pursuing to regain profitability are to boost Atridox sales with a new marketing campaign, to merge with a larger company, or to acquire smaller drug companies.

FORT COLLINS — Atrix Laboratories Inc., which recently hired Lehman Brothers Inc. to help stave off its financial woes, eliminated 13 positions as part of a restructuring plan aimed at cutting costs. The labor cut represents an estimated 12 percent reduction in Atrix’s work force and affects employees in all departments.

Atrix, the maker of Atridox, a gum disease treatment, had a profitable year in 1998 but has suffered losses this year. In its third quarter results, Atrix posted revenue of $1.6 million down, from $5.8 million during the same period of 1998. The company also recorded a net…

[copperpress-advertserve-ad-reload zone="3"]

Related Content

[copperpress-advertserve-ad-interstitial zone="30"]