Biotech Firm's 425-Job Expansion On Hold; Some Layoffs

NEW ORLEANS (AP) — Less than five months after announcing it would add 425 jobs in New Orleans, biotechnology firm Renaissance RX has told state officials those plans are on hold.

         State economic development Secretary Stephen Moret tells The New Orleans Advocate’s Richard Thompson that Renaissance expects to resume the plans within months. He says it's working out a reimbursement issue with a claims processor.

         Spokeswoman Amy Dye tells New Orleans CityBusiness’ Maria Clark on Monday that restructuring last year resulted in layoffs. She won't give a number.

         Renaissance says its tests examine DNA to tell how people will respond to various medications.

         A local legal journal called the Louisiana Record reported in January that Renaissance had laid off staffers after Medicare funding was suspended while investigators review its main study.

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