The Board of Directors of Biogen Idec (NASDAQ: BIIB) today
announced its nominees for election at the 2008 Annual Meeting of
shareholders.
The Board of Directors has nominated Cecil B. Pickett, Ph.D., Lynn
Schenk and Phillip A. Sharp, Ph.D., for re-election as directors of
Biogen Idec. These three individuals have a proven track record of
creating value for all Biogen Idec shareholders. In addition, the
Board has nominated Stelios Papadopoulos, Ph.D., for election as a
director of the Company. The Board noted that all four of these highly
regarded and accomplished individuals are committed to building on the
Company´s strong record of growth and delivering significant value to
shareholders.
Biogen Idec´s Board of Directors remains open to all opportunities
to create value for shareholders and will continue to evaluate all the
Company´s options as circumstances evolve. In the meantime, the Biogen
Idec Board and management are focused on executing a comprehensive
strategic growth plan, which does not rely on any single event or
single approach but encompasses driving the Company´s core business
advancing its product pipeline, attracting and retaining top talent
maintaining discipline in its business-development efforts.
Additional Information on Nominees
Dr. Pickett, 62, has served as our President, Research and
Development and as one of directors since September 2006. Prior to
joining Biogen Idec, Dr. Pickett was President, Schering-Plough
Research Institute from March 2002 to September 2006, and prior to
that, he was Executive VP of Discovery Research at Schering-Plough
Corp. from 1993 to March 2002. Dr. Pickett is a member of the
Institute of Medicine of the National Academy of Sciences and is a
director of Zimmer Holdings, Inc., an orthopedic device company.
Ms. Schenk, 63, is an attorney and consultant in private practice
with extensive public policy and business experience. She served as
Chief of Staff to the Governor of California from January 1999 to
November 2003. She also served as a member of the United States House
of Representatives from 1993 to 1995, representing California´s 49th
District. In the 103rd Congress, Ms. Schenk was on the House Energy
and Commerce Committee, which has oversight jurisdiction for the U.S.
Food and Drug Administration (FDA). In 1994, she was named Outstanding
Member of Congress by the Biotechnology Industry Organization (BIO).
From 1980 to 1983, Ms. Schenk served as the California Secretary of
Business, Transportation and Housing. Since 1995, she has been a
director of Biogen Idec. Ms. Schenk is also a member of the Board of
Trustees of The Scripps Research Institute, a board member of the San
Diego Consortium for Regenerative Medicine, and a director of Sempra
Energy, a Fortune 500 energy services and development company.
Dr. Sharp, 63, is Institute Professor, the highest academic rank
at the Massachusetts Institute of Technology, a position he has held
since 1999. He is also a faculty member in the Department of Biology
and The Koch Institute for Integrative Cancer Research (formerly the
Center for Cancer Research). Dr. Sharp was the founding Director of
the McGovern Institute for Brain Research at the Massachusetts
Institute of Technology and served in that position from 2000 to 2004.
From 1991 to 1999, Dr. Sharp served as Salvador E. Luria Professor and
Head of the Department of Biology, and from 1985 to 1991, he served as
Director of the Center for Cancer Research (now the Koch Institute) at
the Massachusetts Institute of Technology. Dr. Sharp has served as one
of our directors since the merger in November 2003, co-founded Biogen
Inc. in 1978, and served as a director of Biogen from 1982 until the
merger. Dr. Sharp is also a director of Magen BioSciences, Inc. and
director and Chairman of the Scientific Advisory Board of Alnylam
Pharmaceuticals, Inc. Dr. Sharp is a Nobel Laureate and a recipient of
the National Medal of Science.
Dr. Papadopoulos, 59, retired as Vice Chairman of Cowen & Co., LLC
in August 2006 after six years as an investment banker with the firm
where he focused on the biotechnology and pharmaceutical sectors.
Prior to joining Cowen & Co., he spent 13 years as an investment
banker at PaineWebber, Inc., where he was most recently Chairman of
PaineWebber Development Corp., a PaineWebber subsidiary focusing on
biotechnology. Dr. Papadopoulos is affiliated with New York University
Medical Center as an Adjunct Associate Professor of Cell Biology.
Dr. Papadopoulos is a co-founder and Chairman of the Board of
Exelixis, Inc., a drug discovery and development company, co-founder
and member of the board of directors of both Anadys Pharmaceuticals
Inc., a drug discovery and development company, and Cellzome, Inc., a
privately held drug discovery company. He is also a member of the
board of directors of Neuronyx, Inc. and vice-chairman of the board of
directors of BG Medicine, Inc., both privately-held life sciences
companies. In the not-for-profit sector, Dr. Papadopoulos is a
co-founder and Chairman of Fondation Sante, a member of the board of
visitors of Duke University Medical Center and a member of the board
of directors of the National Marrow Donor Program.
About Biogen Idec
Biogen Idec creates new standards of care in therapeutic areas
with high unmet medical needs. Founded in 1978, Biogen Idec is a
global leader in the discovery, development, manufacturing and
commercialization of innovative therapies. Patients in more than 90
countries benefit from Biogen Idec´s significant products that address
diseases such as lymphoma, multiple sclerosis and rheumatoid
arthritis. For product labeling, press releases and additional
information about the Company, please visit www.biogenidec.com.
Important Information
Biogen Idec and its directors, executive officers and other
members of its management and employees may be deemed to be
participants in the solicitation of proxies from the stockholders of
Biogen Idec in connection with the Company´s 2008 annual meeting of
stockholders. Information concerning the interests of participants in
the solicitation of proxies will be included in any proxy statement
filed by Biogen Idec in connection with the Company´s 2008 annual
meeting of stockholders.
In addition, Biogen Idec files annual, quarterly and special
reports with the Securities and Exchange Commission (the "SEC"). The
proxy statements and other reports, when available, can be obtained
free of charge at the SEC´s web site at www.sec.gov or from Biogen
Idec at www.biogenidec.com. Biogen Idec stockholders are advised to
read carefully any proxy statement filed in connection with the
Company´s 2008 annual meeting of stockholders when it becomes
available before making any voting or investment decision. The
Company´s proxy statement will also be available for free by writing
to Biogen Idec Inc., 14 Cambridge Center, Cambridge, MA 02142. In
addition, copies of the proxy materials may be requested from our
proxy solicitor, Innisfree M&A Incorporated, by toll-free telephone at
(877) 750-5836 or by e-mail at info@innisfreema.com.
