ARTICLE | Company News

Biogen Idec biopharmaceuticals news

November 8, 2010 8:00 AM UTC

Biogen Idec will restructure and reduce headcount by 650 (13%) to 4,275 to save cash. The company will also terminate or divest 11 programs to focus on neurology. Biogen Idec plans to discontinue efforts in cardiovascular indications and to spin out or out-license its cancer assets. Biogen Idec will also close its San Diego, Calif., Waltham, Mass., and Wellesley, Mass., facilities. Of the discontinued programs, the most advanced is lixivaptan from Cardiokine Inc. (Philadelphia, Pa.) in Phase III testing for hyponatremia.

Biogen Idec markets two multiple sclerosis drugs, IV Tysabri natalizumab and Avonex interferon beta-1a intramuscular injection. The company's neurology pipeline includes BG-12, an oral dimethyl fumarate that activates the NF-E2-related factor 2 (Nrf2) pathway, and daclizumab, a humanized antibody against IL-2, both in Phase III testing for relapsing-remitting MS. ...