IDEC Pharmaceuticals
Executive Summary
Monoclonal antibody-based immunologics R&D firm will take a $2 mil.-$3 mil. one time charge to earnings related to expenses incurred with planned unification and expansion of operations in the La Jolla/San Diego area, IDEC said Feb. 12. The company explained it has outgrown its Mountain View, Calif. facilities near San Francisco and needs to scale up for future production of commercialized products. The new site is expected to be completed by the end of 1993. Separately, VP-Medical Research and company director Richard Miller, MD, has resigned to "take an active role" at Pharmacyclics, Inc., a start-up he cofounded. Pharmacyclics is "focused on technology involving synthetic chemical agents for medical applications," IDEC said....