New Jersey drug company to lay off 94

PTC Therapeutics, a drug development company based in South Plainfield, N.J., said it will lay off 94 employees at its corporate office by Aug. 21, according to a notice filed in the state. 

The biopharmaceutical company operates six domestic locations and 16 overseas facilities, according to its website. PTC Therapeutics focuses on drugs and gene therapies for metabolism, neurology and oncology indications. 

In October, PTC Therapeutics penned a partnership worth up to $1 billion. 

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