Biotech companies are organizations that utilize biological processes, organisms, or systems to develop products and technologies that improve healthcare, agriculture, and environmental sustainability. They often engage in research and development (R&D) to create pharmaceuticals, diagnostics, and therapies, as well as genetically modified organisms (GMOs) for food production and biofuels. Biotech companies typically combine expertise from fields such as molecular biology, genetics, biochemistry, and engineering to innovate and solve complex biological problems. Their work can lead to significant advancements in medicine, such as vaccine development, cancer treatments, and gene therapy, as well as contributions to agriculture, such as pest-resistant crops and sustainable farming solutions.
Frontier Medicines is streamlining its workforce to enhance operational efficiency and focus on high-impact therapies. Tough decisions, including layoffs, are deemed essential for maintaining a competitive edge in the biotech…