P.M. BRIEFING : Immunex Plans Product Line Switch
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NEW YORK — Immunex Corp. today announced a plan that will transform it from a research-dominated firm in medical biotechnology into a conventional pharmaceutical company.
The 8-year-old company, based in Seattle, said it will achieve the transition primarily by reacquiring rights to sell Immunex-developed products in the United States. In return, its business partners will get rights to some other Immunex products, primarily for overseas distribution.
Immunex uses gene-splicing and other biotechnology techniques to create products for medical treatment.
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