- Associated Press - Friday, June 29, 2018

CODY, Wyo. (AP) - A pharmaceutical manufacturer is laying off about 50 workers at its northern Wyoming facility as the company focuses its resources elsewhere.

The Powell Tribune reports that the announcement Friday affects about a third of the workforce at Cody Laboratories, which employed about 135 workers last fall.

Cody Labs is owned by Philadelphia-based Lannett Co. which says it expects to save $10 million a year from the layoffs and other changes that will be in place by December.

It’s a stunning turnabout for a company that was undertaking a $50.5 million expansion of its Cody facility with a help of a $23 million state loan. However, the loan was never finalized and Lannett announced in April that it was indefinitely postponing the expansion.

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Information from: Powell (Wyo.) Tribune, http://www.powelltribune.com

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