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Orchid Downsizes GeneShield Unit

NEW YORK, May 30 -- Orchid BioSciences has downsized and reorganized its GeneShield business unit, the company said today.

 

As part of the consolidation, the company laid off fewer than 25 staff, according to an Orchid spokesperson.

 

GeneShield's RxShield program -- an information service on genetic variability targeting physicians and patients that is slated for commercial launch this year, according to the company website -- will now be more targeted.  "As opposed to launching a broad-base panel, this is focusing on particular conditions or therapeutic groups," the spokesperson said. Orchid GeneShield expects to reduce its operating costs as a result.

 

Orchid will provide more details on GeneShield's consolidation on August 7, when it plans to announce its second quarter results.

 

For further information, see the company statement.

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