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Biogen 2Q Results: To Cut 1,000 Jobs Ahead of LEQEMBI Launch

"Fit for Growth" program expected to generate approximately $1 billion in operating expense savings.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Biogen 2Q Revenues: $2.5 billion (-5%) 2Q Earnings: $593.3 million (-44%) YTD Revenues: $4.9 billion (-4%) YTD Earnings: $980.9 million (-23%) Comments: Multiple sclerosis (MS) product revenue was down 15% in the quarter to $1.2 billion. MS includes: TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA. SPINRAZA sales were $437 million, up 1%. Biosimilars revenue was flat at $195 million. Restructuring expenses in the quarter were $34 million. On July 6, the FDA granted traditional ap...

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