Biogen
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| Company type | Public (Nasdaq: BIIB) |
|---|---|
| Industry | Biotechnology |
| Founded | 2003 |
| Headquarters | Cambridge, Massachusetts |
Key people | Jim Mullen, CEO |
| Products | Rituxan, Zevalin, Avonex, Tysabri |
| Revenue | 2.26 billion USD |
2,840,700,000 United States dollar (2021)  | |
| 3,046,900,000 United States dollar (2022) | |
Number of employees | 4,166 |
| Website | http://www.biogenidec.com |
Biogen Idec, Inc. (Nasdaq: BIIB) is a biotechnology company specializing in drugs for neurological disorders, autoimmune disorders and cancer. The company was formed in 2003 by the merger of Cambridge, Massachusetts-based Biogen and San Diego, California-based Idec Pharmaceuticals.
Biogen Idec stock is a component of several stock indices such as the S&P 500, S&P 1500, and NASDAQ-100. It employs a little over 4,000 employees.
Locations of operation
Biogen Idec is headquartered in Kendall Square in Cambridge, Massachusetts, and operates research and development facilities in Cambridge and San Diego. Biogen Idec operates manufacturing facilities in Kendall Square, in Research Triangle Park, North Carolina, and Hoofddorp, Netherlands. The company is also building a Large Scale Manufacturing plant in Hillerod, Denmark, which is expected to go online in 2008.
Biogen Idec maintains its international headquarters in Zug, Switzerland, and operates an International regulatory & clinical center of excellence in Maidenhead, UK. In Europe, Biogen Idec has direct commercial affiliates in Germany, France, Spain/Portugal, UK/Ireland, the Benelux, Sweden, Denmark, Norway, Finland, and Austria. In Italy and in Switzerland, Biogen Idec markets its products through two joint venture companies set up with the privately held Italian company Dompe Biotec. Biogen Idec also has offices in Canada, Australia, India, and Japan.
Competitors
Biogen Idec's principal competitors include Teva, Sanofi Aventis, Serono, and Schering AG/Berlex.
As of 2004, Biogen Idec derives most of its income from sales of multiple sclerosis treatment Avonex and from partnership royalties on Rituxan from Genentech, which markets Rituxan in the US. Roche markets Rituxan outside the US as MabThera.
Management
BIIB is managed day-to-day by an executive group composed of nine officers. As customary for a publicly-traded company, BIIB is also overseen by a board of directors that votes on important company decisions. The executive chairman and chief executive officer both hold positions on the board of directors.
Chairman of the Board: Bruce R. Ross
President, Chief Executive Officer: James C. Mullen
President, Research and Development: Cecil B. Pickett
Executive Vice President, Development: Burt A. Adelman
Executive Vice President, New Ventures: John M. Dunn
Executive Vice President, Finance and Chief Financial Officer: Paul Clancy
Executive Vice President, Corporate Strategy and Communication: Connie L. Matsui
Executive Vice President, Human Resources: Craig Eric Schneier, Ph.D.
Executive Vice President, Business Development: Mark Wiggins
Directors: Alan Belzer, Lawrence C. Best, Alan B. Glassberg, Mary L. Good, Thomas F. Keller, Robert W. Pangia, Bruce R. Ross, The Honorable Lynn Schenk, Phillip A. Sharp, Willian D. Young
Natalizumab withdrawal
On February 28, 2005, Biogen Idec and marketing partner Elan Pharmaceuticals voluntarily suspended marketing of natalizumab, and also suspended dosing in all ongoing clinical trials. Natalizumab had been approved in the US in November 2004 for treatment of patients with relapsing remitting MS.
The two companies announced the suspension after two participants involved in one study were diagnosed with a severe brain condition, progressive multifocal leukoencephalopathy (PML), after two years of combination therapy with Biogen's version of interferon beta-1a. One of those two patients died. Subsequently, another patient who had previously died in a separate clinical trial of natalizumab in patients with Crohns disease was re-evaluated as having had PML. In total, 3 cases of PML were identified, of which 2 cases were fatal.[1][2]
Biogen Idec stock lost more than 40% of its value when the drug suspension news was released on February 28, 2005.
References
- ^ Kleinschmidt-DeMasters BK, Tyler KL (2005). "Progressive multifocal leukoencephalopathy complicating treatment with natalizumab and interferon beta-1a for multiple sclerosis". N. Engl. J. Med. 353 (4): 369–74. doi:10.1056/NEJMoa051782. PMID 15947079.
- ^ Langer-Gould A, Atlas SW, Green AJ, Bollen AW, Pelletier D (2005). "Progressive multifocal leukoencephalopathy in a patient treated with natalizumab". N. Engl. J. Med. 353 (4): 375–81. doi:10.1056/NEJMoa051847. PMID 15947078.
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