About the Company
Biogen, Inc. is a multinational biotechnology company that specialises in the treatment of neurological diseases. It discovers, develops, and delivers therapies to treat maladies like multiple sclerosis, Alzheimer’s disease, and spinal muscular atrophy. The company was established in 1978 by several prominent biologists, including Walter Gilbert and Phillip Allen Sharp. Gilbert served as its CEO during the start-up phase and went on to accept a Nobel Prize in Chemistry in 1980. Subsequently, Sharp was awarded the Nobel Prize for Physiology or Medicine in 1993.
The company is headquartered in Cambridge, Massachusetts, United States. Biogen shares trade on the NASDAQ Stock Exchange under the ticker symbol BIIB. It merged with Idec Pharmaceuticals in a $6.8 billion deal and changed its name to Biogen Idec. With this merger, Biogen Idec became one of the largest biotech companies in the world. However, the company later shortened its name, following shifts in its research areas, and reverted to just Biogen. BIIB stock is a component of several indices, namely the NASDAQ 100, S&P 1500, S&P 500 as well as the S&P 100.
In 2013, BIIB purchased all rights to Tysabri, a medication for multiple sclerosis, from its partner Elan Pharmaceuticals in a transaction worth $3.25 billion. Over the years, Biogen has expanded its operations through multiple acquisitions. As of 2020, its latest addition to this list is Nightstar Therapeutics in 2019, with a purchase price of approximately $800 million. BIIB operates internationally in the Americas, Europe, and Asia. New Zealand, Japan, Australia, Italy, Germany, China, Belgium, Poland, and South Korea are some of the countries with its corporate offices. In 2020, Forbes included Biogen in its list of Just Companies as well as World’s Best Employers. BIIB ranked 213th on the list of Fortune 500 and 366th on Forbes’ Global 2000 companies.;