Human Genome CEO to Retire; Jobs to Be Cut

Human Genome Sciences Inc. said William Haseltine, renowned for his work in genetic research, would retire as chairman and chief executive from the biotech company he founded as it struggled to successfully develop new drugs.

Human Genome Sciences, which has yet to turn a profit since its inception in 1992 and has seen its stock fall 90% from its all-time high, also said it would lay off 200 workers, or 20% of its staff.