Isis Pharmaceuticals (ISIS +3.1%) clearly has something that Biogen Idec (BIIB +1.3%) likes -...

|By:, SA News Editor

Isis Pharmaceuticals (ISIS +3.1%) clearly has something that Biogen Idec (BIIB +1.3%) likes - the latter adds a third agreement in the companies' partnership, which will now include the development of drugs for three undisclosed targets to treat neurological or neuromuscular disorders. Biogen will pay Isis $30M upfront, another $200M in milestones for each program, and double-digit royalties on drug sales. (PR)