Biogen completes review process with no definitive offers

By Lisa Kerner

Charlotte, N.C., Dec. 12 - Biogen Idec Inc. will continue as an independent company, its board decided after completing a review of strategic alternatives.

The board began the review process on Oct. 12 to gauge interest in Biogen by major pharmaceutical companies, a company news release stated.

However, no definitive offers for Biogen were received.

Biogen will continue to focus on achieving a series of goals by the end of 2010 that include:

• 100,000 patients on Tysabri (natalizumab);

• More than 40% of the company's revenue coming from its international business;

• Four new products and/or existing products launched in new indications;

• Six programs in late-stage clinical development; and

• Generating revenue growth at a 15% compound annual growth rate and non-GAAP earnings per share at a 20% compound annual growth rate from 2007 through 2010.

Biogen is a Cambridge, Mass.-based pharmaceutical company.

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