8-KOther Events

BIOGEN INC. 8-K Report (Nov 12, 2003)

Filed November 12, 2003For Securities:BIIB

Summary

Biogen Idec Inc. (formerly IDEC Pharmaceuticals Corporation) announced the successful completion of its merger with Biogen, Inc. on November 12, 2003. The company has officially changed its name to Biogen Idec Inc. following the merger. Under the terms of the merger, Biogen, Inc. shares were converted into the right to receive 1.15 shares of the Registrant's common stock. This transaction marks a significant strategic move for the combined entity, creating a larger biotechnology company with potentially enhanced capabilities and product portfolios. Investors should note that Biogen, Inc.'s common stock has been delisted from the Nasdaq National Market following the merger, while the combined company's stock now trades under the ticker symbol 'BIIB' on the Nasdaq National Market.

Key Highlights

  • 1Completion of the merger between IDEC Pharmaceuticals Corporation and Biogen, Inc. on November 12, 2003.
  • 2Registrant's name change to Biogen Idec Inc. effective November 12, 2003.
  • 3Biogen, Inc. shareholders received 1.15 shares of Registrant's common stock for each share of Biogen, Inc. common stock owned.
  • 4Biogen, Inc. common stock has been delisted from the Nasdaq National Market.
  • 5The combined company's common stock now trades under the ticker symbol 'BIIB' on the Nasdaq National Market.
  • 6Stockholders approved an increase in authorized common shares from 500,000,000 to 1,000,000,000.
  • 7Approval of new equity incentive plans: the 2003 Omnibus Equity Plan and the Performance Based Management Incentive Plan.

Frequently Asked Questions

The main event is the completion of the merger between IDEC Pharmaceuticals Corporation and Biogen, Inc. on November 12, 2003. This also includes the change of the Registrant's name to Biogen Idec Inc.

Biogen, Inc. shareholders will receive 1.15 shares of the Registrant's (now Biogen Idec Inc.) common stock for each share of Biogen, Inc. common stock they held prior to the merger.

The combined company's common stock will trade under the ticker symbol 'BIIB' on the Nasdaq National Market. The previous ticker symbol 'IDPH' is no longer in use.

Yes, Biogen Idec Inc. stockholders also approved an amendment to increase the authorized number of common shares, a new equity incentive plan (2003 Omnibus Equity Plan), and a new performance-based management incentive plan.