As its new CEO stated it would last week, Biogen Idec is beginning to unload molecules in its clinical pipeline that are not part of its core development strategy. The first to go - lixivaptan - which will be returned to its partner Cardiokine.
The pipeline restructuring when complete is expected to save BiogenIdec more than $300 M per year at which time the company will have exited 11 programs, and shed 650 workers, or 13% of its current workforce.
Speaking earlier this month, CEO George Scangos said: “We have been operating in too many therapeutic areas and haven't maximized our opportunities. We will now focus on a few areas where we can be among the best, and this starts with neurology.” See in-Pharma Technologist.com.
Posted by Bruce Lehr November 16th 2010.
Comments