Revenues at pharmaceutical company Merrion fell 57 per cent in the six months to the end of June as it announced a restructuring plan that will see 20 redundancies at its Citywest headquarters in Dublin before the end of the year.

Merrion said it planned to restructure its business to focus on new drug pipeline opportunities and make greater use of third-party contractors.

Merrion’s revenues in the first half of the year arrived at almost €1.2 million compared to €2.75 million in the same period the previous year.