Cost-cutting has become the norm for biopharmaceutical companies in 2023 as drug developers struggle to raise capital for ongoing research and development programs, never mind bringing in new funding for growth opportunities. But traditional reasons for restructuring are still around, as Biogen, Inc.’s round of layoffs after its acquisition of Reata Pharmaceuticals, Inc. shows.
Biogen announced its intention to buy out Reata in July, and the deal closed at the end of September, bringing...
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