York County-based Unilife Corp. today announced it is realigning operations to save the company $12 million, and preparing for full production and sale of its new safety syringes.
The changes to its operations will include a small number of staff cuts to reduce redundant positions, but not wholesale changes, said Stephen Allan, Unilife’s vice president of marketing and communications. The cuts will be offset by new hires in sales, marketing and product development, leaving the company’s staff at 150 people, he said.
Unilife will save $5 million on operating expenses, and improve cash reserves by $7 million due to the realignment, according to the company.
For commercial reasons, Unilife is not releasing where else it’s cutting expenditures, Allan said. The company is not cutting production of current or pipeline devices, he said.
The company last week began initial production of its Unifill prefilled safety syringes.
Unilife’s stock is traded on the Nasdaq under the ticker symbol UNIS.