Biogen Idec Announces Strategic Initiative to Drive Long-Term Growth and Accelerate Business Development Activities; Plan Expected to Deliver Annualized Savings of $200 million to $300 million; Includes Workforce Reduction of 17%.

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Biogen Idec Announces Strategic Initiative to Drive Long-Term Growth and Accelerate Business Development Activities; Plan Expected to Deliver Annualized Savings of $200 million to $300 million; Includes Workforce Reduction of 17%.

CAMBRIDGE, Mass. & SAN DIEGO -- Business Development Commitment Increased to $200 Million Annually

Biogen Idec (NASDAQ: BIIB) today announced a comprehensive strategic plan to position the company for long-term growth. The plan builds on the continuing strength of the core products and expected near-term developments. The plan has three principal elements:

1. Reducing operating expenses and enhancing economic flexibility by recalibrating Biogen Idec's asset base, geographic site missions, staffing l...

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