Biogen Idec Inc
(NASDAQ: BIIB)
210.80
+3.05
+1.47%
+3.05
+1.47%
MORE ON BIIB
COMPANY INFORMATION
| Exchange: | NASDAQ national market |
| Stock: | Biogen Idec Inc |
| Industry: | Biotechnology |
| Employees: | 5,950 |
DESCRIPTION
| Biogen Idec Inc., was formed as a California corporation in 1985 and became a Delaware corporation in 1997. In 2003, the Company acquired Biogen, Inc. and changed its corporate name from IDEC Pharmaceuticals Corporation to Biogen Idec Inc. The Company is a global biotechnology company that discovers, develops, manufactures and markets therapies for the treatment of multiple sclerosis (MS) and other autoimmune disorders, neurodegenerative diseases and hemophilia. The Company also collaborates on the development and commercialization of RITUXAN and anti-CD20 product candidates for the treatment of non-Hodgkin's lymphoma and other conditions. The Company’s marketed products include AVONEX; TYSABRI; RITUXAN; FAMPYRA; FUMADERM. AVONEX is one of the prescribed treatments in the world for relapsing forms of MS. MS is a progressive neurological disease in which the body loses the ability to transmit messages along nerve cells, leading to a loss of muscle control, paralysis and, in some cases, death. TYSABRI has advanced the treatment of MS patients with its established efficacy. TYSABRI is a monoclonal antibody approved in numerous countries as a monotherapy treatment for relapsing MS and also approved in the U.S. to treat Crohn’s disease, an inflammatory disease of the intestines. RITUXAN is a prescribed monoclonal antibody therapeutic used to treat non-Hodgkin’s lymphoma, rheumatoid arthritis, chronic lymphocytic leukemia and two forms of ANCA-associated vasculitis. FAMPYRA is the first treatment that addresses the unmet medical need of walking improvement in adult patients with MS who have walking disability. FAMPYRA is a prolonged-release tablet formulation of the drug fampridine. FUMADERM is approved for the treatment of severe psoriasis in Germany. Psoriasis is a skin disease in which cells build up on the skin surface and form scales and red patches. The Company is facing competition from other biotechnology firms and large pharmaceutical companies. The Company is subject to various federal and state laws pertaining to health care ‘fraud and abuse,’ including anti-kickback laws and false claims laws. |
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