|Traded as||NASDAQ: BIIB
S&P 500 Component
|Founded||1978 (from merger)|
Phillip Allen Sharp
|Headquarters||Cambridge, Massachusetts, U.S.|
|Stelios Papadopoulos, Chairman
George A. Scangos, CEO
|Products||Alprolix, Avonex, Eloctate, Fampyra, Gazyva*, Plegridy, Rituxan*, Tecfidera, Tysabri|
|Revenue||US$ 9.703 billion (2014) |
|US$ 3.972 billion (2014)|
|US$ 2.941 billion (2014)|
|Total assets||US$ 14.31 billion (2014)|
|Total equity||US$ 10.80 billion (2014)|
Number of employees
|7,550 (December 2014)|
Biogen, Inc. (previously known as Biogen Idec) is an American multinational biotechnology company based in Cambridge, Massachusetts, specializing in the discovery, development, and delivery of therapies for the treatment of neurodegenerative, hematologic, and autoimmune diseases to patients worldwide.
Biogen was founded in 1978 in Geneva by several prominent biologists, including Kenneth Murray of the University of Edinburgh, Phillip Allen Sharp of the Massachusetts Institute of Technology, Walter Gilbert of Harvard (who served as CEO during the start-up phase), Heinz Schaller, University of Heidelberg and Charles Weissmann, University of Zurich (who contributed the first product interferon alpha). Gilbert and Sharp were subsequently honored with Nobel Prizes: Gilbert was recognized in 1980 with the Nobel Prize in Chemistry for his work in understanding DNA sequencing, while Sharp received the Nobel Prize in Physiology or Medicine in 1993 for his discovery of split genes.
In 2003, Biogen merged with San Diego, California-based IDEC Pharmaceuticals (formed in 1986 by biotech pioneers Ivor Royston and Howard Birndorf) and adopted the name Biogen Idec. After the merge, Biogen Idec became the 3rd largest Biotechnology company in the world. Following shifts in research core areas, the company has since shortened its name, reverting to simply Biogen. Biogen stock is a component of several stock indices such as the S&P 100, S&P 500, S&P 1500, and NASDAQ-100 and the company is listed on the NASDAQ stock exchange under the ticker symbol, BIIB.
In January 2015 the company announced it will acquire Convergence Pharmaceuticals for up to $675 million, with the acquisition aiming to accelerate the development of Convergence's pipeline, in-particular CNV1014802 – a Phase II small molecule sodium channel blocking candidate. In October 2015 the company announced it will lay off 11% of its workforce, effective immediately.
In May 2016 the company announced that it will spin off its hemophilia drug business (Eloctate and Alprolix) into a public company. In August, the company announced that the spun off company would be called Bioverativ in order to show heritage with Biogen. The company will trade on the NASDAQ exchange under the ticker symbol BIVV and will look to be spun off in early 2017.
The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):
Biogen is managed by an executive group composed of ten officers:
As is customary for a publicly traded company, Biogen is also overseen by a board of directors. The Executive Chairman and Chief Executive Officer both hold positions on the board of directors. The directors are Stelios Papadopoulos (chairman), George A. Scangos Ph.D. (CEO), Alexander J. Denner, Ph.D., Caroline Dorsa, Nancy L. Leaming, Richard C. Mulligan, Robert W. Pangia, Brian S. Posner, Eric K. Rowinsky, M.D., The Honorable Lynn Schenk, and Stephen A. Sherwin, M.D.
|Therapy||Indication (In United States unless otherwise noted)||Year Approved (US)||Year Approved (EU)||Additional Information|
|ALPROLIX™ [Coagulation Factor IX (Recombinant), Fc Fusion Protein]||Control and prevention of bleeding episodes, perioperative management and routine prophylaxis in adults and children with hemophilia B||2014||1993||Also approved in Canada and Australia.
Biogen and Swedish Orphan Biovitrum (Sobi) are collaborators in the development and commercialization of ALPROLIX. 
|AVONEX® (interferon beta-1a)||Relapsing forms of multiple sclerosis||1996||1997||Includes the AVONEX PEN auto-injector and the AVOSTARTGRIP titration kit approved in the U.S. in 2012.|
|ELOCTATE™ [Antihemophilic Factor (Recombinant), Fc Fusion Protein]||Control and prevention of bleeding episodes, perioperative (surgical) management and routine prophylaxis in adults and children with hemophilia A||2014||1999||Biogen and Swedish Orphan Biovitrum (Sobi) are collaborators in the development and commercialization of ELOCTATE.|
|FAMPYRA® (prolonged-release fampridine tablets)||Multiple sclerosis (Walking ability)||2010||2011||Marketed by Biogen in markets outside of the United States.|
|FUMADERM™ (fumaric acid esters)||Psoriasis German use||1994 (Germany only)||Approved in Germany.
Acquired in acquisition of Fumapharm AG in 2006.
|GAZYVA® (obinutuzumab)||Chronic lymphocytic leukemia||2013||2014||The first medicine approved with the FDA’s Breakthrough Therapy Designation and is also currently in Phase 3 trials for NHL and diffuse large B-cell lymphoma.
Currently commercialized in the United States by Genentech, a wholly owned subsidiary of Roche.
|PLEGRIDY™ (peginterferon beta-1a)||Relapsing forms of multiple sclerosis||2014||2014|
|RITUXAN® (rituximab)||Non-Hodgkin's Lymphoma (NHL)
Anti-TNF Refractory Rheumatoid Arthritis
|1998 (as MabThera)||The first monoclonal antibody for cancer developed by IDEC, prior to merging with Biogen.
Currently commercialized by Roche and its subsidiary, Genentech.
|TECFIDERA® (dimethyl fumarate)||Relapsing forms of multiple sclerosis||2013||2014|
|TYSABRI® (natalizumab)||Relapsing-remitting multiple sclerosis||2004 Re-introduced in 2006||2006||Full rights purchased from partner Elan in 2013.|
Biogen has focused its R&D efforts on the discovery and development of treatments for patients with high unmet medical needs in the areas of neurology, hematology and immunology.
Investigational MS medicines:
Biogen has several candidates in Phase 1 and 2 clinical trials in neurodegenerative and immunological diseases including MS, Alzheimer’s disease, neuropathic pain, spinal muscular atrophy and lupus nephritis:
Biogen also has several development agreements in place with Ionis Pharmaceuticals to collaborate to leverage antisense technology in advancing the treatment of neurological disorders.
In February 2012, Biogen formalized a joint venture with Samsung, creating Samsung Bioepis. This joint venture brings Biogen’s expertise and capabilities in protein engineering, cell line development, and recombinant biologics manufacturing to position the joint venture so Biogen can participate in the emerging market for biosimilars.
In early 2014, Biogen entered into an agreement with Eisai, Inc., to jointly develop and commercialize two of their candidates for Alzheimer’s disease, which have the potential to reduce Aβ plaques that form in the brains of patients, as well as to slow the formation of new plaques, potentially improving symptoms and suppressing disease progression.