Biogen To Restructure

Biogen Idec has announced plans to restructure, and will consolidate facilities and cease development of certain research projects in an effort to cut costs and focus on its most promising programs.

George Scangos, the company’s recently appointed chief executive officer, commented at his appointment that he “planned to instill a sense of urgency in every aspect of the business to ensure that we execute at the highest levels and capitalize on our growth opportunities.”

Biogen’s multiple sclerosis drugs Avonex and Tysabri face increased competition from new products in development. Tysabri has also been associated with safety problems. Biogen is currently developing a test to screen patients at risk of developing the potentially deadly brain infection, PML. Biogen markets Tysabri in collaboration with Elan Corp.