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Idec buys Biogen for $6.84bn in stock

Executive Summary

In a merger of equals, Idec Pharmaceutical (cancer and autoimmune disease therapies) is buying Biogen (autoimmune and cancer therapeutics) for stock worth $6.84bn, which is about seven times Biogen's 2002 sales. The combined entity, Biogen Idec Inc., will be the third largest biotech.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Acquisition
    • Includes Contract
    • Payment Includes Stock
    • Full Acquisition
    • Intra-Biotech Deal

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