Biogen is Preparing for the Largest Layoff in Company History！

The layoffs at Biogen have already begun, and it is reported that the layoffs are only part of a previously disclosed plan to reduce annual expenses by $500 million.

The Nobel Prize-winning biotech company hasn't given up after a 2021 run-in with its new drug Aduhelm, and is still trying to sell the new, controversial Alzheimer's disease treatment, and is battered from setbacks in other businesses recover.

Aduhelm is the first U.S.-approved therapy that many researchers believe to address Alzheimer's disease at its root. Analysts had expected sales of the drug to rise rapidly once it hit the market. But so far, Aduhelm has been weak. That's largely because Biogen has had trouble convincing doctors to prescribe the drug, nor can it convince major insurers to cover it.

Aduhelm's total sales in the fourth quarter of 2021 were only $1 million. Biogen's 2021 revenue is nearly $11 billion, down 18% from 2020.

Due to its struggling financials, Biogen announced in December 2021 that it would implement cost-cutting measures aimed at saving the company about $500 million a year.

Layoffs are one way Biogen now intends to cut costs. In an email Thursday, Ashleigh Koss, Biogen's global head of corporate communications and media, wrote, "Some of our colleagues in the U.S. were informed today that their roles are being removed." Of Biogen's roughly 9,600 employees, About 5,600 are located in the United States.

Biogen is preparing for the largest layoff in the company's history, with more than 1,000 jobs set to be terminated this year, according to National Television.