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Biogen Cuts An Unspecified Number Of Employees In Another Round Of Layoffs

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Biogen Cuts An Unspecified Number Of Employees In Another Round Of Layoffs

(CTN News) – According to the Boston Business Journal, Biogen will lay off an unspecified number of employees.

According to a Biogen spokesperson, the layoffs were confirmed, but the exact number of affected employees was not revealed.

Former Biogen executive Matt Winton, who was head of the company’s multiple sclerosis franchise in the U.S., announced his departure in late March on LinkedIn.

The MS and SMA communities were fortunate to have his team’s efforts. During his nine-year career at Biogen, Winton held various positions.

Asked directly whether the job cuts would affect Biogen’s MS division primarily, the spokesperson did not confirm.

Announcing the company’s Q4 and full-year 2022 results in February 2023, Biogen CEO Christopher Viehbacher specifically mentioned the company’s MS business’ “declining revenue base”.

To avoid worsening already-declining sales, he cautions, “find the right balance” and do not take too much from multiple sclerosis. Viehbacher said he anticipates new investments for MS franchise in 2023 even as he expects cost-reduction measures for the franchise.

Biogen will continue to invest in the MS franchise as needed as part of its base business, the spokesperson said.

To support Leqembi and zuranolone launches and to sustain innovation in R&D, we need to find a balance across the entire portfolio.

As many as 1,000 employees were planned to be laid off as part of a sweeping headcount reduction implemented throughout 2022. Taking the cost-cutting measure was meant to compensate for its troubled Alzheimer’s medicine, Aduhelm.

It’s still MS that makes Biogen’s most money

According to Viehbacher, MS franchise remains its main source of revenue.

Almost 68% of Biogen’s revenue came from its MS business in 2022, earning $5.43 billion dollars. Nevertheless, MS sales dropped 9% at constant currencies from the previous year as a result of generic competition and pricing pressure.

Tysabri (natalizumab) remains most profitable MS asset, with sales exceeding $2.3 billion in 2022. Tysabri was approved in 2004 as a monoclonal antibody capable of binding to T cells and preventing them from attacking nerves in the brain and spinal cord, one of the hallmarks of MS.

Tecfidera (dimethyl fumarate), an activator of the Nrf2 pathway, is second-highest-selling MS asset, expected to generate more than $1.4 billion in revenue by 2022. It was approved in 2013 that Tecfidera was available for sale.

Avonex (interferon beta-1a) and Plegridy (peginterferon beta-1a) are also included in MS franchise.

As well as the oral drug Fampyra (fampridine), which is marketed as Ampyra in the U.S. by Acorda Therapeutics, Biogen’s MS franchise also includes the fumarate-based oral drug Vumerity (diroximel fumarate).

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