Biogen Idec (BIIB +2%) and Isis Pharmaceuticals (ISIS +2.8%) enter into an agreement to develop...

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

Biogen Idec (BIIB +2%) and Isis Pharmaceuticals (ISIS +2.8%) enter into an agreement to develop and commercialize an antisense drug for the treatment of Steinert disease. Isis will receive an upfront payment of $12M and is responsible for the discovery of a lead drug candidate. In all, the deal could see Isis rake in more than $271M.