Take a look at Biogen Idec's new Kendall Square buildings, complete with treadmill desks, "huddle rooms" for impromptu meetings, and no private offices.
It looks like Roche's top two picks for the role of chairman--both execs from the multinational field--have taken a pass on the job. And that has left at least a couple of prominent biotech vets in the mix of possible candidates.
When George Scangos took the helm at Biogen Idec, he left little doubt that he couldn't much stand the company's gleaming new headquarters in Weston, MA, the brainchild of ex-CEO Jim Mullen. R&D in Cambridge was where it was at, and that's where he spent the bulk of his time.
Biogen Idec CEO George Scangos took home one of the largest pay packages in the biotech industry in 2012--a total of $13.45 million in 2012, a 19% jump in pay from his $11.33 million pay package the previous year, the Weston, MA-based company reported Monday in a proxy statement.
With $4 billion of Copaxone revenue on the line, it's no surprise to find Teva waving a red flag to the FDA as Biogen Idec gets down to the regulatory wire with its closely watched competitor BG-12. The big generics company filed a petition with the FDA demanding an advisory committee meeting to inspect what it has called potentially "serious safety risks."
Biogen Idec has shipped its application to the FDA for approval of an experimental therapy for the rare bleeding disorder hemophilia B. And the long-lasting clotting factor is the most advanced candidate in what could become the Weston, MA-based biotech giant's next blockbuster business.
Biogen Idec CEO George Scangos gambled big that dexpramipexole could buck the long losing streak of experimental drugs for ALS and go on to score positive results in Phase III. But today the company had to acknowledge that Scangos--in his first big setback after taking the helm--lost that wager.
Like pioneers rushing for gold, biotech and pharma outfits have swept into Cambridge, MA, and dismissed the hefty property costs in search of talent and technology that could lead to lucrative new drugs.
Less than a year after Biogen Idec inked its first development pact with the antisense experts at Isis Pharmaceuticals, the big biotech has come back to the bargaining table to sign off on their third deal, with Biogen paying $30 million upfront and promising up to $200 million more in milestones for each of three new programs aimed at neurological diseases and neuromuscular disorders.
Industry watchers argue that Scangos deserves kudos for the success of the biotech powerhouse since his tenure began, Forbes editor Matthew Herper writes in a feature on the chief executive's impact.