Biogen Idec was founded in 1978 in Geneva as Biotechnology Geneva by several prominent biologists, including Kenneth Murray from the University of Edinburgh, Phillip Allen Sharp from the Massachusetts Institute of Technology, Walter Gilbert from Harvard University, Heinz Schaller from the University of Heidelberg, and Charles Weissmann from the University of Zurich .
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In 2011, Biogen Idec announced that its drug Fampyra received conditional marketing approval.
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In 2016, Biogen Idec released Spinraza, a treatment for Spinal Muscular Atrophy.
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In 2017, Biogen Idec announced that its drug Fampyra converted from conditional marketing authorization to standard marketing approval.
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In September 2020, Biogen Idec Inc made a $10 million deposit in OneUnited Bank to provide more capital to fund home loans and commercial development in Black communities.
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In December 2014, Biogen Idec announced that its Aducanumab drug for Alzheimer's treatment is preparing to go through a late-stage trial of its experimental Alzheimer's disease treatment after the medication dramatically improved cognition and reduced brain plaque levels in early-stage study.
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In May 2020, Biogen Idec wrapped up construction on a state-of-the-art facility in Solothurn, Switzerland, which will produce the Alzheimer's drug aducanumab by late 2021, alongside its North Carolina manufacturing facility.
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Biogen Idec's shares traded at over $289 per share, and its market capitalization was valued at over US$63 billion in November 2018.
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Biogen Idec ranked 228 on the 2021 Fortune 500 list of the largest United States corporations by revenue.
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In early 2014, Biogen Idec entered into an agreement with Eisai, Inc, to jointly develop and commercialize two of their candidates for Alzheimer's disease, which have the potential to reduce Aß plaques that form in the brains of patients, as well as to slow the formation of new plaques, potentially improving symptoms and suppressing disease progression.
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Biogen Idec has since 2015 an agreement with AGTC to develop gene therapy for several genetic diseases, including X-linked retinoschisis and X-linked Retinitis pigmentosa ophthalmologic diseases.
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In July 2020, Biogen Idec completed submission of a Biologics license application to the FDA for review, and requested accelerated review.
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In September 2022, Biogen agreed to pay $900 million to the U S federal governments, states, and a whistleblower who accused the company of paying kickbacks to doctors between 2009 and 2014 to increase prescriptions of Avonex, Tysabri, and Tecfidera .
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