BIOGEN TO SELL PLANT TO GENENTECH

Biogen Idec has announced that it plans to sell a California plant built to manufacture its recalled drug Tysabri to fellow biotechnology giant Genentech. Biogen will sell the Oceanside, Calif.-based plant, built in December 2004, to Genentech for approximately $408 million in cash. Genentech will use the plant to manufacture its popular oncology drug Avastin, the companies said. The companies added that they expect the plant's 430 employees will be either retained by Biogen or offered new employment with Genentech.
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