A Bucks County manufacturer is restructuring their operations as the country’s current economy takes a toll on a major industry. John George wrote about the local company for the Philadelphia Business Journal.

Lannett Company Inc., located at 1150 Northbrook Drive in Trevose, is closing their two Northeast Philadelphia research and development sites, the first steps in reducing their presence in the area.

Along with the closures, the company is eliminating 64 positions in the company, about 11% of their workforce. In a recent filing to the Pennsylvania Department of Labor and Industry, the company said these decisions were made in order”to streamline and realign our operations to ensure the continued progression of our existing pipeline and future growth.”

Both of the company’s Philadelphia facilities will be closed by on June 30, 2023. They are currently seeking buyers for the soon-to-be closed locations. The company has mainly focused on the creation and distribution of insulin drugs over the years.

Read more about the Trevose-based business in the Philadelphia Business Journal.