Biogen Idec CEO to retire

Cambridge-based biotech Biogen Idec, the maker of the multiple sclerosis drug Tysabri, linkurl:announced;http://investor.biogenidec.com/phoenix.zhtml?c=148682&p=irol-newsArticle&ID=1370474&highlight=] yesterday that its president and CEO, James Mullen, will retire in June. The search is on for a new head. Mullen rose through the ranks at Biogen after coming on as director of facilities and engineering in 1989. He became head of Biogen in 2000, and kept that post when Biogen merged with San Die

Alla Katsnelson
Jan 4, 2010
Cambridge-based biotech Biogen Idec, the maker of the multiple sclerosis drug Tysabri, linkurl:announced;http://investor.biogenidec.com/phoenix.zhtml?c=148682&p=irol-newsArticle&ID=1370474&highlight=] yesterday that its president and CEO, James Mullen, will retire in June. The search is on for a new head. Mullen rose through the ranks at Biogen after coming on as director of facilities and engineering in 1989. He became head of Biogen in 2000, and kept that post when Biogen merged with San Diego based Idec in 2003. The tech and business journal linkurl:Xconomy writes:;http://www.xconomy.com/boston/2010/01/04/biogen-idec-ceo-jim-mullen-stepping-down-after-tumultuous-year-of-shareholder-activism/ "Mullen presided over a period in which Biogen emerged as the world's largest maker of multiple sclerosis drugs and one of the biotech industry?s leading companies. But it has recently come under fire from billionaire investor Carl Icahn for failing to deliver investment returns on par with its biotech peers, and for its inability to introduce any new marketed products since natalizumab (Tysabri) was approved by the FDA in November 2004."...

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