In two articles from the Wall Street Journal today, more bad news for pharma and biotech. Novartis announced that it plans to lay off some 2,500 people globally -- that represents about 2.5 percent of the company's work force, according to the article. In another story, the Journal reports that Biogen has given up its search for a buyer after several weeks of searching "turned up no serious offers." The company's stock plummeted 27 percent on the news.
And the Hits Just Keep on Coming
Dec 13, 2007
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