Biogen to cut 1,000 jobs as it prepares for Alzheimer's drug launch

Biogen plans to cut about 1,000 jobs, around 11% of its workforce, to lower costs.
The job cuts come as Biogen prepares to launch its new Alzheimer's drug Leqembi and awaits possible approval for a depression drug.
Biogen aims to save $700 million in expenses by 2025, with plans to reinvest $300 million into product launches and R&D.
The company faces challenges from cheap generic rivals to its multiple sclerosis drug Tecfidera.
Biogen seeks to become more agile and competitive in the face of intense competition in the pharmaceutical industry.