Biotech company Biogen lowered its full-year profit forecast, citing higher costs related to its purchase of drug maker Reata Pharmaceuticals as well as the launch of its Alzheimer's drug.

<div class="block">Biotech company Biogen lowered its full-year profit forecast, citing higher costs related to its purchase of drug maker Reata Pharmaceuticals as well as the launch of its Alzheimer&#39;s drug.</div>

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Biogen Lowers Full-Year Profit Forecast

And biotech company Biogen lowered its full year profit forecast. The company noted higher costs related to its purchase of a drug maker Ria to pharmaceuticals, as well as the launch of its Alzheimer's drug Lambi Biogen is hoping both of those will help grow its revenue. Now, the company is also working to cut cost. It announced in July, it would lay off about 1000 workers or about 11% of its workforce.