Biogen's stock zoomed up more than 7 percent after the announcement of the cuts and release of the company's better-than-expected earnings report.
What's Biogen's stock doing now?
The job cuts come after a slowdown in growth of Biogen's multiple sclerosis drug, Tecfidera. The company also reported better-than-expected third-quarter adjusted earnings of $4.48 a share on sales of $2.8 billion. Analysts had estimated earnings of $3.80 a share on $2.65 billion in revenue. Tecfidera sales also topped estimates, at $937...