Facet Biotech (FACT) rejects Biogen Idec's (BIIB) $14.50/share bid, calling it inadequate. Says...

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

Facet Biotech (FACT) rejects Biogen Idec's (BIIB) $14.50/share bid, calling it inadequate. Says BIIB's decision to launch a bid for Facet within weeks of their joint decision to begin a Phase III trial for its daclizumab MS treatment "does not appear to be a coincidence."