In reporting its first-quarter earnings, Biogen said it would halt the development of at least four investigational drugs to allow the company to focus on more lucrative opportunities. | In a sizable cost-cutting measure, Biogen will lay off 1,000 employees by 2025, it announced in presenting its second quarter earnings. With the company starting 2023 with 8,725 employees, that’s an 11.5% reduction of the workforce.
