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Biogen Idec strategic initiative

Executive Summary

Biogen Idec will divest the psoriasis biologic Amevive (alefacept) and reduce its workforce by 17%, or 650 employees, as part of a strategic initiative aimed at reducing annual operating expenses by $200 mil.-$300 mil., the company said Sept. 8. Amevive generated sales of $43 mil. in 2004 and accounted for about 2% of Biogen Idec's total revenues...





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