Biogen names new chairman as William Young retires

|About: Biogen Inc. (BIIB)|By:, SA News Editor

Biogen Idec (BIIB) has named director Stelios Papadopoulos as chairman to replace William Young, who will retire at the biotech company's next annual shareholders meeting.

Papadopoulos is Chairman of Exelixis (EXEL), a cancer-drug discovery company that he co-founded in 1994, and Regulus Therapeutics (RGLS).

ISI analyst Mark Schoenebaum seems to be very happy about Papadopoulos' appointment. "Stelios has as much, if not more, experience than anyone on Planet Earth right now advising biotech companies on how to create shareholder value," Schoenebaum says. "If the world of biotech was a city, Stelios would be mayor." (PR)