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Ferring Pharmaceuticals is planning another round of layoffs at its U.S. headquarters in Parsippany.

In a filing with New Jersey Department of Labor & Workforce Development, the Swiss biopharmaceutical group reported it will eliminate 64 positions at its Parsippany base between January and July 2026.

Altogether, Ferring plans to let go 500 employees globally – about 7% of its workforce – as part of a streamlining effort, the company said in an Oct. 7 statement.

“Ferring is undertaking a company-wide initiative designed to sharpen strategic focus, improve cost efficiencies, flexibility, and free up resources for reinvestment in innovation, whilst promoting its financial stability and sustainable growth,” the firm said.

“These proposed changes include potential geographic relocations of some roles to better reflect strategic priorities. Subject to local consultation, where required, some roles could change, while other capabilities may no longer be required.”

Going forward, Ferring said it aims to continue investing in patient solutions, modern technologies and business development focused on mid- to late-stage opportunities.

“We recognize, however, that these changes have a significant personal impact on some of our colleagues, and we are committed to supporting everyone affected with respect, care, and transparency throughout the process,” the company’s statement read.

Prior cuts

The layoffs come about two years after Ferring cut 79 jobs in Parsippany and 55 roles at a site in Minnesota, Fierce Pharma reported. Earlier in 2023, the company let go of 89 employees as part of a decision to shut down a research facility in San Diego.

Founded in 1950, Ferring develops and markets reproductive health, maternal health and gastroenterology/urology products — especially those involving peptide- and hormone-based therapies. It recently expanded into innovative areas, such as microbiome therapeutics, regenerative medicine and cell-based therapies.

In June, the company opened a state-of-the-art gene therapy manufacturing facility in Parsippany.

The privately held company employs more than 7,500 workers worldwide. In addition to headquarters in Copenhagen and Parsippany, Ferring has research & development centers in Brazil, China, Denmark, India, Israel, Japan and the U.K.

In April, Ferring reported $2.7 billion in sales for fiscal year 2024. Its reproductive medicines generated more than $1 billion in sales for the first time, according to the results.