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Biogen is cutting 95 jobs at its international headquarters in Baar, Switzerland, following a previous reduction of 1,000 positions in summer 2023. The layoffs result from a strategic assessment leading to the merger of two departments. Biogen employs around 1,000 people in Switzerland, focusing on neurology and drug development for serious diseases.
Amgen is set to launch its Eylea biosimilar, Pavblu, after a court ruling lifted a temporary injunction that had blocked its introduction. Despite Regeneron's claims of patent infringement and plans to continue legal battles, analysts suggest Amgen's move may be a tactic to prompt a settlement. The legal dispute intensified after a district court denied Regeneron's request for a preliminary injunction, allowing Amgen to proceed with its launch "at risk."
Otsuka Pharmaceutical's experimental drug, sibeprenlimab, has shown promising results in a Phase 3 trial for IgA nephropathy, a rare kidney disease, demonstrating a significant reduction in protein levels in urine, a key indicator of kidney health. The company plans to discuss accelerated approval with the FDA while the trial continues, expected to conclude in early 2026. This development validates Otsuka's acquisition of Visterra, which focuses on immune diseases, and positions sibeprenlimab as a potential first-in-class treatment for IgAN.
The drug and biotech sector is experiencing a strong earnings season, highlighted by Johnson & Johnson's recent performance, which exceeded estimates and led to an upward revision of revenue expectations. Five large drug companies—Novo Nordisk, Novartis, Pfizer, Regeneron Pharmaceuticals, and Biogen—are anticipated to outperform in their upcoming quarterly results, with Novo Nordisk showing a positive Earnings ESP of +1.02% and a Zacks Rank #3. Overall, the Medical sector is projected to see a 6.4% rise in fourth-quarter earnings and an 8.5% increase in revenues.
Sage Therapeutics is restructuring, cutting about one-third of its workforce, which amounts to approximately 165 employees, primarily in research. The company is also reprioritizing its drug pipeline following setbacks, including mixed results for its drug Zurzuvae and failures in trials for other neurological treatments. Sage aims to extend its operating runway while focusing on launching Zurzuvae, which has seen a gradual increase in prescriptions.
Biogen Inc.
Companies
| Symbol | BIIB |
| Name | Biogen Inc. |
| Currency | USD |
| Sector | Health Care |
| IndustryGroup | Pharmaceuticals, Biotechnology & Life Sciences |
| Industry | Pharmaceuticals |
| Market | NASDAQ Global Select |
| Country | United States |
| State | MA |
| City | Cambridge |
| Zipcode | 2142 |
| Website | http://www.biogen.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Biogen announces 95 job cuts at Swiss headquarters in Baar ZG
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