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Biogen Idec Inc. (BIIB)

  • Sun, Jan. 11, 10:14 PM
    • In the context of accelerating the growth of its pain portfolio, Biogen (NASDAQ:BIIB) acquires Cambridge-based Convergence Pharmaceuticals, a clinical-stage biotech whose technology platform is based on ion channel electrophysiology and ion channel medicinal chemistry. Biogen is particularly interested in CNV1014802, a small molecule state-dependent sodium channel blocker, currently being developed for the treatment of neuropathies like lumbosacral radiculopathy (sciatica) and trigeminal neuralgia.
    • Under the terms of the acquisition agreement, Biogen will pay Convergence shareholders an upfront payment of $200M and up to $475M in milestones. The transaction is expected to close this quarter.
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  • Apr. 12, 2013, 10:59 AM
    Elan's (ELN -1.3%) shareholders have overwhelmingly approved a plan to buy back $1B in stock following the sale of Tsabri to Biogen Idec (BIIB +2.4%), as speculation mounts that an earlier takeover indication by Royalty Pharma might be sweetened. Royalty approached ELN in February with an $11 per share potential offer, valuing the company at $6.55B, which was rejected by ELN. Last week, Ireland's Takeover Panel told the pharmaceutical investor to either step up and announce an official takeover offer for the company by May 10, or walk away.
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  • Apr. 2, 2013, 6:08 PM
    Biogen Idec (BIIB) completes its purchase of Elan's (ELN) interest in Tysabri, gaining full strategic, commercial and decision-making rights to the relapsing MS drug treatment. [BIIB plans to give further details and updated financial guidance during it's upcoming Q1 earnings announcement. Shares +0.3% AH.
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  • Feb. 6, 2013, 4:08 PM
    Deutsche Bank cuts Elan (ELN -9.9%) to Hold on the back of its sale of Tysabri to Biogen (BIIB +2.1%). Deutsche says the decision looks attractive because ELN "swapped hope for certainty." However, uncertainty over the use of the proceeds forces it to move to the sidelines.
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  • Feb. 6, 2013, 3:16 AM
    Biogen Idec (BIIB) has agreed to acquire full ownership of multiple-sclerosis drug Tysabri from Elan (ELN) for $3.25B plus future royalty payments. Biogen has co-marketed the injectable treatment, which generated revenue of $1.6B last year, with Elan for twelve years, with both firms splitting the profit until now. The deal comes as Biogen awaits approval for its BG-12 pill to treat MS. (PR)
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  • Feb. 14, 2012, 9:08 AM
    Biogen (BIIB) agrees to acquire Stromedix, a privately-held developer of treatments for fibrosis and organ failure, for $75M in cash and potential additional payments of up to $487.5M. Stromedix's most advanced candidate, STX-100, is a monoclonal antibody that has shown promise in early stage trials to treat fibrosis. BIIB -0.5% premarket.
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  • Oct. 17, 2011, 6:13 PM
    GlaxoSmithKline (GSK) may bid $25/share for Human Genome Sciences (HGSI), the Daily Mail speculates, citing their partnership in developing the FDA-approved lupus drug Benlysta. With Merck (MRK) and Biogen (BIIB) also sniffing around the company, GSK "could decide now would be an opportune time to make a move on HGS." HGSI +4.9% AH.
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Company Description
Biogen Idec Inc, is a biopharmaceutical company. The Company discovers, develops, manufactures and markets therapies for neurological, autoimmune and hematologic disorders.
Sector: Healthcare
Industry: Biotechnology
Country: United States