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Biogen Idec
Biogen Idec Inc. (Nasdaq National Market :BIIB) is a pharmaceutical company specializing in drugs for autoimmune disorders and cancer. The company was formed in 2003 by the merger of Cambridge, Massachusetts-based Biogen and Idec Pharmaceuticals of San Diego, California.
Biogen Idec is headquartered in Kendall Square in Cambridge, Massachusetts, and operates research and development facilities in Cambridge and San Diego. Biogen Idec operates manufacturing facilities in Research Triangle Park, North Carolina and Oceanside, California. The company employs about 4,000 people.
Biogen Idec's principal competitors include Genentech (with which the company has a marketing partnership for the cancer drug Rituxan), Amgen, Teva, and Serono. As of 2004, Biogen Idec derives most of its income from sales of multiple sclerosis treatment Avonex and psoriasis drug Amevive , and partnership royalties on Rituxan.
In February, 2005, Biogen Idec and marketing partner Elan Pharmaceuticals abruptly pulled multiple sclerosis drug Tysabri from the market after three patients involved in a clinical trial were diagnosed with a severe brain condition, progressive multifocal leukoencephalopathy after two years of combination therapy with Avonex; two of the patients died.
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