Biogen expects to reduce headcount by 1,000 under $700M operational savings plan
Fresh off two FDA green lights — a full approval for Alzheimer’s and an accelerated nod in ALS — Biogen CEO Chris Viehbacher is bringing down the budget axe and will shrink headcount by about 1,000 by 2025.
Biogen is implementing a major expanded reduction plan, hoping to save $700 million in net operating expenses by 2025. Another $300 million is expected to be saved, but will be re-injected into product launches and R&D, the company said Tuesday morning during second quarter earnings. The famed Boston drugmaker generated $2.45 billion in revenue in the second quarter.
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