News
Biogen announces cost saving programme.
Biogen announced a new $1 billion cost savings program that will result in 1,000 job cuts; $300 million of the savings will be reinvested in new drug launches and R&D
The latest realignment follows multiple years of revenue declines at Biogen, driven by the loss of Tecfidera (dimethyl fumarate) revenue to generic competition starting in 2020, the company’s failure to bring enough new growth drivers to market to fill that gap, and over investment in the launch of Aduhelm (aducanumab), which never generated returns.
Type: industry
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