Epix Pharmaceuticals, Inc. has recently decided to wind up its operation in the current business environment as it has been loosing its financial strength and it is not possible to keep this company stable in the war of competition and new brands in the markets.

The officials of the company explained that the company has made its several efforts to make the company profitable and financially strong but it lacks of making such decisions and many other problems. The company hired many financial advisors to get consultancy about the present situation of the company but its really a hard luck for the company to be keep in the decision of winding up.

Before making the final decision of the company, the management also made an effort to reduce the overheads and other costs like persons on high payroll. It has come to knowledge that at 31st Dec the company had its total 91 employees which was downsized in such a way that no idea is with experts that how many employees they have fired from the job. But still by taking this type of action, the company is still cannot make a review to wind up the company.

Ernst & Young is the auditors for the company which advised and issued a letter that the company cannot continue its working over the next full year. So finally now the company has disposed off its assets and liabilities and a new name is given to this company that is Warnke & Gayton.

epix pharmaceuticals