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See Latest ArticlesCell Therapeutics Finalizes Asset Sale and Closure of Italian Branch, Saves $20 Million in 2010 Annual Operating Expenses
Cell Therapeutics, 09/29/09
Cell Therapeutics, Inc. announced that it has finalized the closing its Bresso, Italy operations and will receive approximately $1.1 million from the sale of assets. CTI expects the closure to save approximately $20 million in annual operating expenses in 2010 and beyond based on current exchange rates. The Bresso facility was used for pre–clinical research and was underutilized due to CTI's focused business model preparing for commercial launch of pixantrone and other phase III development stage products.
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