CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jun. 4, 2009--
Biogen Idec (NASDAQ: BIIB) today announced that, based on a preliminary
count provided by its proxy solicitor, it appears the Company’s
stockholders elected Robert W. Pangia, William D. Young and Alexander J.
Denner, Ph.D., to the Biogen Idec Board of Directors. Based on that
count, results on the election of the fourth director were too close to
call. The Company will rely on the tabulation of votes by the Company’s
independent inspector of elections, IVS Associates, before announcing
the remaining director to serve on the Board.
In addition, the preliminary count shows that stockholders supported the
Biogen Idec Board’s recommendations to institute majority voting in
uncontested elections, ratify the Company’s auditor, and reject a
proposal to change the Company’s jurisdiction of incorporation to North
Dakota. It appears that stockholders also supported the Board’s
recommendation to reject a proposal to amend the Company’s bylaws to set
the size of the Board at 13.
Bruce R. Ross, Biogen Idec’s Chairman, said, “We welcome our new
director to the Board and look forward to working together to build on
our strong track record of delivering value. While we await the outcome
of the vote for the remaining director, we would like to express our
gratitude for the support of our stockholders.”
About Biogen Idec
Biogen Idec creates new standards of care in therapeutic areas with high
unmet medical needs. Founded in 1978, Biogen Idec is a global leader in
the discovery, development, manufacturing, and commercialization of
innovative therapies. Patients in more than 90 countries benefit from
Biogen Idec's significant products that address diseases such as
lymphoma, multiple sclerosis, and rheumatoid arthritis. For product
labeling, press releases and additional information about the company,
please visit www.biogenidec.com.
Source: Biogen Idec
Biogen Idec Media Contact:
Jennifer Neiman, 617-914-6524
Senior
Manager, Public Affairs
or
Biogen Idec Investor Relations
Contact:
Eric Hoffman, 617-679-2812
Director, Investor
Relations
