Biogen Idec Inc. – Company Information

Biogen logo
Company Biogen Idec Inc.
Headquarters 225 Binney Street, Cambridge, MA 02142, USA
CEO  George A. Scangos
CFO Paul J. Clancy
Chairman Stelios Papadopoulos
Industry Biotechnology
Founder Merger of Biogen and IDEC Pharmaceuticals
Founded 2003
Type Public
NASDAQ stock symbol BIIB
Revenue $9.703 billion (2014)
Net income $2,934 million (2014)
Earnings per share $12.37 USD (2014)
Employees 7,550 (2014)
Corporate contact number: 781-464-2000

Biogen Idec Inc. is an American multinational biotechnology company, headquartered in Cambridge, Massachusetts.

The company develops a range of treatment options for neurodegenerative diseases, hemophilia and autoimmune disorders.

It was created in 2003 following a merger between Biogen Inc. (one of the oldest biotechnology companies) and IDEC Pharmaceuticals (which was founded in 1986).

Biogen Idec’s portfolio of products includes therapies for multiple sclerosis (such as AVONEX® and TYSABRI®), RITUXAN® (treatment for non-Hodgkin’s lymphoma), and Fumaderm (psoriasis treatment).

The company operates offices in the US, Canada, Australia, Japan and Europe, with direct commercial presence in 30 countries and distribution agreements in 60 more.

It has manufacturing facilities in Kendall Square and in Research Triangle Park, North Carolina and a large scale manufacturing plant in Hillerød, Denmark.

In 2014 Biogen Idec entered into an exclusive worldwide collaboration and license agreement with Sangamo BioSciences, Inc., focused on the development of therapeutics for hemoglobinopathies.

Income statement data (in $ thousands) 2014* 2013*
-Product revenue $8,203,404 $5,542,331
-Unconsolidated joint business revenue $1,195,389 $1,126,017
-Other revenue $304,531 $263,851
Total revenues $9,703,324 $6,932,199
Research and development $1,893,422 $1,444,053
Selling, general and administrative costs $2,232,342 $1,712,051
Total cost and expenses $5,747,668 $4,441,588
Income from operations $3,972,414 $2,515,509
Income before income tax expense and equity in loss of investee, net of tax $3,946,633 $2,480,579
Income tax expense $989,942 $601,014
Net income $2,941,565 $1,862,341
Balance sheet data (in $ thousands)
Total assets $14,316,559 $11,863,335
Total liabilities $3,502,519 $3,242,497
Total equity $10,814,040 $8,620,838
Common share data (in $)
Earnings per Common Share – Basic $12.42 $7.86
Earnings per Common Share – Diluted $12.37 $7.81
Cash flow data (in $ thousands)
Net cash flows provided by operating activities $2,942,115 $2,345,078
Net cash flows provided used in investing activities $(1,542,976) $(1,604,668)
Net cash flows used in financing activities $(755,873)) $(716,528)
Cash and cash equivalents, at beginning of year $602,562 $570,721
Cash and cash equivalents, at end of year $1,204,924 $602,562

*Years Ended December 31

Source: “Biogen Idec Inc. Form 10-K 2014”