Noteworthy Immunex cutting costs and pushing development

Behind the modest cutbacks announced at Immunex Corp. Iies a more fundamental shift in resources and direction aimed at bolstering the company's ability to move products through development.

IMNX last week eliminated 37 staff positions as part of a program to lower expenses and improve efficiency. The Seattle company now employs 775 people, down from 841 earlier in the year. The changes will bring its quarterly sales, general and administrative expenses to $13-15 million in 1995, a $2-4 million reduction. SG&A was $17.9 million in the second quarter ended June 30. As a result of the cuts, IMNX incurred a one-time expense of $l .7 million in the third quarter.