ARTICLE | Strategy

Ring fencing MS

Biogen Idec restructuring banks heavily on multiple sclerosis franchise

November 8, 2010 8:00 AM UTC

In the spring of 2009, Carl Icahn argued that Biogen Idec Inc. should be split into two companies, one focused on neurology and the other oncology. In the company's restructuring last week, new CEO George Scangos has essentially done just that.

Icahn, who held a 4.8% stake at June 30 and controls three of the 12 seats on the board, has criticized the company's high cost structure and lack of R&D productivity(see BioCentury, June 8, 2009). ...