Biogen Idec Charts A New Course

01 Jan 2011

Thanks to a November restructuring that refocused the company around its historic strength in neurology and the hiring of two critical executives, Biogen believes it can grow beyond its warhorses Avonex and Tysabri

It's been an eventful seven months at Biogen Inc., one of the last free-standing big biotechnology companies. Since taking the helm in July 2010, newly minted CEO George Scangos, PhD, has radically restructured the biotech, jettisoning R&D initiatives in oncology and cardiology, as well as eliminating the company's San Diego site, culling $300 million in costs in the process. He's also made big changes to his top management team, hiring two former CEOs with decades of biotech experience: Doug Williams, PhD, most recently of ZymoGenetics Inc., as his head of R&D, and Steven Holtzman, formerly of Infinity Pharmaceuticals Inc., to take over the newly created role of EVP of corporate development.

These decisions may streamline management functions and create a more entrepreneurial culture as Biogen reverts to its core historic strength...