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Biotech / Medical : Biogen -- Ignore unavailable to you. Want to Upgrade?

To: Tradegod who wrote (790)	12/23/1998 1:47:00 PM
From: Beltropolis Boy	Respond to of 1686

>any word on the president's resignation? the official party line ... i'd call it a buying opportunity. ----- Biogen, Inc. Announces Election of James L. Vincent as CEO; Board Accepts Resignation of James R. Tobin December 23, 1998 01:00 PM CAMBRIDGE, Mass., Dec. 23 /PRNewswire/ -- Biogen, Inc. (BGEN) today announced the election of James L. Vincent, currently Chairman of the Board, to the additional posts of President and Chief Executive Officer. Mr. Vincent previously served as President from 1985-1994 and as Chief Executive Officer from 1985-1997. Mr. Vincent succeeds James R. Tobin, who has been President, Chief Executive Officer and a member of Biogen's Board of Directors. At a meeting of the Board of Directors yesterday, Mr. Tobin resigned these posts for personal reasons, effective immediately. In accepting his resignation, the Board expressed its appreciation for Mr. Tobin's contributions during his five-year tenure and wished him continued success. Mr. Vincent said, "Jim Tobin has made an outstanding contribution to Biogen. He is a very talented executive who played an important role in the development of the company and the successful market introduction of AVONEX(R) (Interferon beta-1a)." During Mr. Vincent's earlier term, he led the development and FDA approval of AVONEX(R). Sales of AVONEX(R) have been the principal source of Biogen's excellent revenue and profit growth since 1996. Upon return to his prior role as CEO, Mr. Vincent said, "Biogen is in the best financial and operational shape in its history, and I am confident of continuing growth of AVONEX(R) sales. We will continue with the business strategies that have evolved and been put in place over the past few years." He also expressed his optimism for the development of the company's product pipeline.