ERROR 1
ERROR 1
ERROR 2
ERROR 2
ERROR 2
ERROR 2
ERROR 2
Password and Confirm password must match.
If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)
ERROR 2
ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.
Despite reporting double-digit gains in nine-month sales and earnings, Biogen has decided to shutter some drug development programs and cut 11% of its workforce, or nearly 900 employees. The Boston-area firm is discontinuing its Phase III program for Tysabri in treating secondary progressive multiple sclerosis (MS), as well as research in lupus nephritis, immunology, and fibrosis. The MS drugs Tysabri, Tecfidera, and Avonex accounted for 89% of the firm’s $6.8 billion in product sales this year. Biogen expects the restructuring to reduce annual expenses by about $250 million. Meanwhile, Japan’s Daiichi Sankyo is reorganizing in the U.S. as it shifts its focus to specialty cardiovascular, pain management, and oncology drugs. The company expects to eliminate 1,000 to 1,200 positions at its Parsippany, N.J., office and in sales, but it will leave R&D untouched.
Join the conversation
Contact the reporter
Submit a Letter to the Editor for publication
Engage with us on Twitter