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8-K - FORM 8-K - BIOGEN INC. | b79104e8vk.htm |
Exhibit 99.1
For More Information Contact:
Biogen Idec Media Contact:
Amy Reilly
Associate Director, Public Affairs
(617) 914-6524
Biogen Idec Media Contact:
Amy Reilly
Associate Director, Public Affairs
(617) 914-6524
Biogen Idec Investor Relations Contact:
John Applegate, 617-679-2812
Associate Director, Investor Relations
John Applegate, 617-679-2812
Associate Director, Investor Relations
BIOGEN IDEC RECEIVES NOTICE OF INTENTION TO NOMINATE DIRECTORS
AT 2010 MEETING OF SHAREHOLDERS
AT 2010 MEETING OF SHAREHOLDERS
Cambridge, MA, January 28, 2010 Biogen Idec (NASDAQ: BIIB) today announced it has
received notice from Icahn Partners LP and certain of its affiliates of their intention to nominate
three individuals, Thomas F. Deuel, Eric K. Rowinsky and Richard A. Young, to Biogen Idecs Board
of Directors at the Companys 2010 Annual Meeting. The notice also includes a proposal to amend
the Companys bylaws to fix the number of directors at 12.
The Board will evaluate the nominees and the proposal and make a recommendation in the best
interests of all shareholders. The Board consists of 12 director seats, with a class of four
directors up for election at the 2010 Annual Meeting.
Icahn Partners LP and affiliates reported owning 16.1 million Biogen Idec shares, representing less
than 6% of total outstanding shares. Mr. Icahn nominated directors and made similar proposals to
fix the size of the Companys Board at the 2008 and 2009 Annual Meetings.
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
Idecs 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.
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Page 2 Biogen Idec Receives Notice of Intention to Nominate Directors at 2010 Meeting Of Shareholders
Important Information
Biogen Idec and its directors and executive officers may be deemed to be participants in the
solicitation of proxies from the stockholders of Biogen Idec in connection with the Companys
2010 annual meeting of stockholders. The names, affiliations and interests of such individuals may
be found in Biogen Idecs Annual Report on Form 10-K for the year ended December 31, 2008 and its
proxy statement for the 2009 Annual Meeting, each of which are filed with the Securities and
Exchange Commission (SEC). To the extent holdings of Biogen Idec securities have changed since
such documents were filed, such changes have been or will be reflected in Statements of Change in
Ownership on Forms 3 and 4 filed with the SEC. Additional information regarding such individuals
will be included in the Companys Annual Report on Form 10-K for the year ended December 31, 2009
and in the Companys proxy statement in connection with the Companys 2010 annual meeting of
stockholders when those documents are filed with the SEC.
Biogen Idec files annual, quarterly and special reports with the SEC. The proxy statements and
other reports, when available, can be obtained free of charge at the SECs web site at www.sec.gov
or from Biogen Idec at www.biogenidec.com. Biogen Idec stockholders are advised to read carefully
the proxy statement relating to the Companys 2010 annual meeting of stockholders and any other
relevant documents filed by the Company with the SEC when they become available before making any
voting or investment decision, because they will contain important information. The Companys proxy
statement will also be available for free by writing to Biogen Idec Inc., 14 Cambridge Center,
Cambridge, MA 02142. In addition, copies of the proxy materials may be requested from our proxy
solicitor, MacKenzie Partners, Inc., by toll-free telephone at 1-800-322-2885 or by e-mail at
proxy@mackenziepartners.com.
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