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Amgen (AMGN) to Lay Off 380 R&D Workers


10/20/2011 6:29:54 AM

Amgen Inc. (AMGN), the world’s largest biotechnology company, is firing 380 employees in its research and development division, a spokeswoman said. The Thousand Oaks, California-based company increased its research spending 26 percent during the second quarter, to $808 million, as three experimental drugs moved into larger clinical trials, which are more expensive and require more resources, said Mary Klem, a spokeswoman. “We will continue to invest in our R&D,” Klem said today in an interview. “This doesn’t represent an across-the board cut.”

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