Arbitration panel rules in favor of Biogen Idec

Biogen Idec Inc. (NASDAQ:BIIB) said an arbitration panel reaffirmed the company's right to participate in strategic decisions related to the development of anti- CD20 antibodies, including Rituxan rituximab and second-generation ocrelizumab, under a deal with Genentech Inc. According to Biogen Idec, the panel rejected Genentech's assertion that the 2003 merger of IDEC Pharmaceuticals Corp. and Biogen Inc. constituted a change of control. A spokesperson for Biogen Idec said both companies have a "limited right of appeal." ...