Biogen prunes pipeline and workforce

Biogen Inc. (NASDAQ:BIIB) said it plans to eliminate some pipeline programs and cut 11% of its 8,000-employee workforce to push higher priority candidates through the clinic and boost marketing efforts for multiple sclerosis drug Tecfidera dimethyl fumarate.

The company terminated development of both Tysabri natalizumab and Tecfidera to treat secondary progressive MS. Biogen said Wednesday that Tysabri missed its primary and secondary endpoints in the Phase III ASCEND trial to treat secondary progressive MS. Tecfidera was in the Phase III INSPIRE trial for the indication. ...