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Epix Cutting 23 Percent of Workers

Xconomy Boston — 

Epix Pharmaceuticals (NASDAQ:EPIX), a Lexington, MA-based biopharmaceutical firm, announced Thursday that it is reducing its work force by 23 percent and “narrowing” the focus of its R&D. The company, which plans to continue developing its lead drugs for Alzheimer’s disease and respiratory conditions, says it expects the cuts to reduce its annual expenses by about $3 million.