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Biogen Idec

Biogen Idec
Company nameBiogen Idec, Inc.
Company typePublic
HeadquartersWeston, Massachusetts, U.S.
Key peopleWilliam D. Young (Chairman) George A. Scangos (CEO)
Revenue(+) US$ 4.716 billion (2010)
Operating income(-) US$ 1.249 billion (2010)
Net income(-) US$ 899 million (2010)
Total assets(-) US$ 8.092 billion (2010)
Total equity(-) US$ 5.449 billion (2010)
Employees4,850 (2010)

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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 Inc. and San Diego, California-based IDEC Pharmaceuticals (formed in 1986 by biotech pioneers Ivor Royston and Howard Birndorf). Biogen, one of the oldest biotechnology companies, was founded in 1978 in Geneva by several biologists, including Phillip Sharp of the Massachusetts Institute of Technology, Walter Gilbert of Harvard (who served as CEO during the start-up phase) and Charles Weissmann of Zurich University (who contributed the first product interferon-alpha).

Biogen Idec stock is a component of several stock indices such as the S&P 500, S&P 1500, and NASDAQ-100.

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