Biogen Idec ‘will now be known as simply Biogen’

Biogen Idec has changed its name and will now be known simply as Biogen, according to an announcement made by chief executive officer George A Scangos.

Effective from March 22nd, the company has introduced a new corporate identity and logo that it feels reflects its evolution as a business and its focus on new therapies in high unmet need.

The firm also feels its new name and identity honours its scientific heritage and legacy as a pioneer in the biotechnology industry.

Biogen Idec was formed in 2003, when Biogen and IDEC Pharmaceuticals merged to become one entity and created one of the world's leading research-based life sciences organisation.

Since then, the company has focused its research and commercial efforts in three core areas: neurology, immunology and hematology.

The firm's common stock will continue to trade on the Nasdaq Global Select Market under the 'BIIB' symbol, while its CUSIP number will not change.