Acambis Kicks Back with Restructuring

Following a series of recent setbacks, Acambis plc (Cambridge, UK, www.acambis.com) has initiated a restructuring, aimed at increasing the focus of its resources on key programs and core operational capabilities, and significantly lowering its cost base. Over the next two years Acambis intends to reduce its cost base by around 20%, and its headcount by approximately 15% across the organization this year. As part of restructuring, the company has also appointed Ian Garland as the new CEO and implemented other management changes.