Type Public Founded 1978 (from merger) | Industry Biotechnology Number of employees 7,350 | |
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Traded as NASDAQ: BIIB
NASDAQ-100 Component
S&P 100 Component
S&P 500 Component Founders Kenneth Murray
Phillip Allen Sharp
Walter Gilbert
Charles Weissmann Key people Stelios Papadopoulos, Chairman
Michel Vounatsos, CEO Stock price BIIB (NASDAQ) US$ 293.26 +4.66 (+1.61%)1 Mar, 4:00 PM GMT-5 - Disclaimer CEO George A Scangos (Jun 2010–) Headquarters Cambridge, Massachusetts, United States Subsidiaries Biogen Inc., Syntonix Pharmaceuticals, Inc Profiles | ||
Biogen idec is biogen once again
Biogen, Inc. (previously known as Biogen Idec) is an American multinational biotechnology company based in Cambridge, Massachusetts, specializing in the discovery, development, and delivery of therapies for the treatment of neurodegenerative, hematologic, and autoimmune diseases to patients worldwide.
Contents
- Biogen idec is biogen once again
- The next big thing in biotech biogen idec
- History
- Bioverativ
- Acquisition history
- Leadership
- Pipeline
- References
The next big thing in biotech biogen idec
History
Biogen was founded in 1978 in Geneva by several prominent biologists, including Kenneth Murray of the University of Edinburgh, Phillip Allen Sharp of the Massachusetts Institute of Technology, Walter Gilbert of Harvard (who served as CEO during the start-up phase), Heinz Schaller, University of Heidelberg and Charles Weissmann, University of Zurich (who contributed the first product interferon alpha). Gilbert and Sharp were subsequently honored with Nobel Prizes: Gilbert was recognized in 1980 with the Nobel Prize in Chemistry for his work in understanding DNA sequencing, while Sharp received the Nobel Prize in Physiology or Medicine in 1993 for his discovery of split genes.
In 2003, Biogen merged with San Diego, California-based IDEC Pharmaceuticals (formed in 1986 by biotech pioneers Ivor Royston and Howard Birndorf) and adopted the name Biogen Idec. After the merge, Biogen Idec became the 3rd largest Biotechnology company in the world. Following shifts in research core areas, the company has since shortened its name, reverting to simply Biogen. Biogen stock is a component of several stock indices such as the S&P 100, S&P 500, S&P 1500, and NASDAQ-100 and the company is listed on the NASDAQ stock exchange under the ticker symbol, BIIB.
In May 2006, the company announced it would acquire cancer specialist, Conforma Therapeutics for $250 million. Later in the same month, the company announced its intention to acquire Fumapharm AG, consolidating ownership of Fumaderm and BG-12, an oral fumarate, which is being studied for the treatment of multiple sclerosis and psoriasis.
In January 2007, the company announced it would acquire Syntonix Pharmaceuticals for up to $120 million, gaining Syntonix's lead product for hemophilia B as well as the technology for developing inhalable treatments.
In February 2013, Bloomberg broke the news that Biogen was planning the pay Elan $3.25 billion for the full rights to Tysabri, used to treat multiple sclerosis.
In January 2015 the company announced it will acquire Convergence Pharmaceuticals for up to $675 million, with the acquisition aiming to accelerate the development of Convergence's pipeline, in-particular CNV1014802 – a Phase II small molecule sodium channel blocking candidate. In October 2015 the company announced it will lay off 11% of its workforce, effective immediately.
Bioverativ
In May 2016 the company announced that it will spin off its hemophilia drug business (Eloctate and Alprolix) into a public company. In August, the company announced that the spun off company would be called Bioverativ, in order to show heritage with Biogen. The company will trade on the NASDAQ exchange under the ticker symbol BIVV and will look to be spun off in early 2017.
Acquisition history
The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):
Leadership
Biogen is managed by an executive group composed of ten officers:
As is customary for a publicly traded company, Biogen is also overseen by a board of directors. The Executive Chairman and Chief Executive Officer both hold positions on the board of directors. The directors are Stelios Papadopoulos (chairman), Michel Vounatsos (CEO), Alexander J. Denner, Ph.D., Caroline Dorsa, Nancy L. Leaming, Richard C. Mulligan, Robert W. Pangia, Brian S. Posner, Eric K. Rowinsky, M.D., The Honorable Lynn Schenk, and Stephen A. Sherwin, M.D.
Pipeline
Biogen has focused its R&D efforts on the discovery and development of treatments for patients with high unmet medical needs in the areas of neurology, hematology and immunology.
Investigational MS medicines:
Biogen has several candidates in Phase 1 and 2 clinical trials in neurodegenerative and immunological diseases including MS, Alzheimer’s disease, neuropathic pain, spinal muscular atrophy and lupus nephritis:
Biogen also has several development agreements in place with Ionis Pharmaceuticals to collaborate to leverage antisense technology in advancing the treatment of neurological disorders.
In February 2012, Biogen formalized a joint venture with Samsung, creating Samsung Bioepis. This joint venture brings Biogen’s expertise and capabilities in protein engineering, cell line development, and recombinant biologics manufacturing to position the joint venture so Biogen can participate in the emerging market for biosimilars.
In early 2014, Biogen entered into an agreement with Eisai, Inc., to jointly develop and commercialize two of their candidates for Alzheimer’s disease, which have the potential to reduce Aβ plaques that form in the brains of patients, as well as to slow the formation of new plaques, potentially improving symptoms and suppressing disease progression.