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Healthcare

BRIEF-Medicines Co says commenced implementation of workforce reduction​

June 2 (Reuters) - Medicines Co:

* Medicines Co - on june 1, 2017, Medicines company commenced implementation of a workforce reduction

* Medicines - workforce reduction will result in company reducing its personnel by approximately 60 employees

* Medicines - workforce reduction representing approximately 15 pct of company’s workforce - sec filing

* Medicines-expects to record pre-tax charge of about $270 million to $280 million associated with discontinuation and market withdrawal of Ionsys in U.S.

* Medicines - company expects charges will be recognized in Q2 of 2017

* Medicines- expects to realize estimated annualized cost savings from voluntary discontinuation and market withdrawal of ionsys of approximately $35 million

* Medicines Co - voluntary discontinuation and withdrawal from market of Ionsys is not due to any safety or product quality concerns

* Medicines-‍workforce reduction was in connection with discontinuation & market withdrawal of Ionsys in U.S., cessation of commercialization activities​ Source text - bit.ly/2rOvwHz Further company coverage:

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