Biogen Idec

Biogen Idec

Biogen Idec started operations in the year 1978 and is first amongst the very few biotechnological company of its time. With more than 30 years of experience, this firm is continuing its research to bring out drug therapies for the public at large.
Biogen Idec with its varied pharmacologic drugs is striving hard to make a positive impact in the lives of people with unmet medical needs. This company is based on two basic principles – bio and technology; bio is life and technology is the conversion or the practical application of ideas into processes. This firm is a member of NASDAQ and is traded as BGEN.
Biogen Idec matured as a company with developing drugs for multiple sclerosis. Its other areas of expertise include neurodegenerative disorders, autoimmune diseases, rheumatoid arthritis and hemophilia. Two years after its conception, the company made its first breakthrough with the discovery of biologically active human leukocyte – α interferon and human fibroblast – β interferon. In the same year, Walter Gilbert, PhD, research scientist and founder of Biogen Idec was one amongst the three scientists to have received Nobel Prize in Chemistry for understanding the sequencing of DNA.
The year 1986 was a year of real success for Biogen Idec. It was in this year that the first product – INTRON developed by the scientists of this firm was introduced in the market.
Popular biotech products
Biogen Idec began its journey by adopting the disease multiple sclerosis that had no known effective medications in that era. It was an ignored disease condition left alone by pharmaceutical companies, and Biogen Idec made its first entry into the market with development of an effective drug known as AVONEX for treating multiple sclerosis (MS). Some years down the line, the company came out with yet another drug for MS known as TYSABRI. Years passed by and Biogen Idec continued to make a positive impact in the field of pharmaceutical drugs and in the process two new drugs were introduced in the market - RITUXAN and FAMPYRA.
Latest discoveries
Biogen Idec has constantly come out with new and innovative drug therapies for helping patients with deadly diseases. The following list speaks of some of the latest drug discoveries by this company.
• TECHFIDERA for treating relapsing episodes or forms of multiple sclerosis. This drug has received FDA approval.
• PLEGRIDY – yet to receive FDA approval and is used for treating relapsing forms of MS.
• RECOMBINANT FACTOR IX Fc for treating hemophilia B.
• RECOMBINANT FACTOR VIII Fc for treating hemophilia A.
• GA101 for treating non – Hodgkin’s lymphoma.
• TYSABRI for treating MS – secondary progressive form.
• OCRELIZUMAB for treating relapsing form of MS.
• ANTI-TWEAK for treating lupus nephritis.
• ANTI-LINGO for treating MS.
• STX – 100 for treating idiopathic pulmonary fibrosis.
• NEUBLASTIN for treating neuropathic pain.
• SMN for spinal muscular atrophy
• CD40L for treating systemic lupus erythematosus.
• BIIB037 for treating Alzheimer’s disease.
The last two drugs in the above list are still in the phase I of clinical trials and are yet to enter the next stage of drug testing.
Recent company takeovers
Biogen Idec is committed to deliver world class therapies for several neurodegenerative diseases. Forming partnerships and alliances with more than one firm is one amongst the four success pillars of this firm. Biogen Idec has collaborated with same firms multiple times to deliver therapies that can have a promising effect on neurodegenerative disorders.
Biogen Idec entered into collaboration with Elan Pharmaceuticals to develop the TYSBARI drug. The firm has collaborated with Abbott, Acorda, Genentech, Isis pharmaceuticals, Knopp Biosciences, NsGene A/S, Portola pharmaceuticals, Samsung, UCB S.A. Ltd., Roche and Neurimmune therapies.
Biogen Idec has signed agreement with Isis pharmaceuticals for 3 times in a row. This agreement will view the development of RNA – targeted drug discovery. With this, the Isis – SMNRx was developed for the treatment of spinal muscular atrophy.
Biogen Idec entered into collaboration with Samsung and Stromedix in the year 2012. This joint venture led to the development of STX-100.
Recent corporate news
The total revenue of Biogen Idec for the year 2012 was $ 5,516 million. The GAP net income for the same year was $ 1,380 million and diluted earnings for shares was 5.76. In the year 2013, the firm has allocated about $20 million for their innovation fund.
Work culture
The work culture at Biogen Idec is very positive and one has to actually be a part of this firm to experience and believe it. The employees of this firm strive extremely hard and leave no stone unturned for developing and delivering best therapies for the common man.
The employers of Biogen Idec are good paymasters and strive to provide their employees the best of everything. The employees are given rewards and recognition for the work done and are applauded for the wonder discoveries in pharmacy. The firm provides compensation for the employee’s health, provides competitive compensation, and also provides several benefits package for its employees. It also promises a secured financial future for its employees in form of 401 (K) savings plan, college savings (529 plans) and employee stock purchase programs.
Interesting events
Every passing year continues to be interesting and eventful for Biogen Idec. The following list speaks of some of the most interesting events that took place in recent years.
• In the year 2011, the firm announced the positive results from phase III clinical trials for the oral drug BG-12.
• In the year 2012, Biogen Idec donated about $349 million for free drug patient program. It also provided about $2 million to support in fellowship programs.
• The firm also provided a grant of $1.6 million in 2012 for the development of various educational and community – based programs.
Recent job openings
Biogen Idec is constantly on the lookout for vibrant and dynamic individuals who can take their firm to greater heights. Interested candidates can drop in their resumes and wait for their turn in the recruitment process. Biogen Idec needs qualified candidates who are passionate enough to research and develop new drug therapies to serve mankind. Individuals can even upload their resumes at the Biogen website. They can also take a short tour through the website to understand the working and functioning of this firm.