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Biotech / Medical : Munch-a-Biotech Today

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From: Icebrg	6/3/2006 4:12:55 PM
	of 3158

Executive: Biogen Idec seeks acquisitions By Bloomberg News \| May 30, 2006 Biogen Idec Inc., the Cambridge-based biotechnology company that makes the multiple sclerosis drug Avonex, can spend at least $2 billion to expand in the markets for drugs that treat cancer and neurological disorders, the German newspaper Sueddeutsche Zeitung reported yesterday. The company is searching for drugs or companies to buy, Hans Peter Hasler, a Biogen Idec senior vice president, told the newspaper in an interview. The company has $2 billion in cash available and could also use its shares as currency, he said. Products in advanced clinical trials that could be brought to market in a couple of years are particularly interesting, Hasler added.

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