Biogen sees saving about $1B in gross operating expenses from ‘Fit for Growth’

Biogen said its new “Fit for Growth” program is expected to generate approximately $1B in gross operating expense savings, approximately $300M of which will be reinvested into product launches and R&D programs, resulting in approximately $700M in net operating expense savings by 2025. The program includes net headcount reduction of approximately 1,000, the company noted along with its Q2 earnings report.