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Immunex Pares Cost of R&D Building

SEATTLE-According to documents filed with the Securities and Exchange Commission this week, the locally-based biotech company expects its Helix Project will cost $625 million to construct, about $125 million less than originally anticipated.

By Gina Binole | Updated on May 10, 2002

SEATTLE-Pending the outcome of a takeover by Amgen, Immunex anticipates the cost of its Elliot Bay research and development building to drop from $750 million to $625 million.

Officials from the locally-based biotech company said in March they were delaying construction of the Helix project, which is to house roughly 1,200 employees in an 11-building campus. Phase I was to be finished by the end of next year. But Immunex maintains the corporate headquarters portion of the project will not be necessary if the takeover by Amgen is completed.

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