Pharmaceutical Manufacturer Cuts Back Wyoming Facility
CODY, Wyo. (AP) — A pharmaceutical manufacturer is laying off about 50 workers at its northern Wyoming facility as the company focuses its resources elsewhere.
The announcement Friday affects about a third of the workforce at Cody Laboratories, which employed about 135 workers last fall.
Cody Labs is owned by Philadelphia-based Lannett Co. which says it expects to save $10 million a year from the layoffs and other changes that will be in place by December.
It's a stunning turnabout for a company that was undertaking a $50.5 million expansion of its Cody facility with a help of a $23 million state loan. However, the loan was never finalized and Lannett announced in April that it was indefinitely postponing the expansion.