Icahn to pick 3 for Biogen board
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From Times Wire Services
Billionaire investor Carl Icahn said he would nominate three people to Biogen Idec Inc.’s board and criticized the company’s earlier attempt to find a buyer as “flawed.”
Biogen refused to let bidders talk to Irish drug maker Elan Corp., its partner in the multiple sclerosis treatment Tysabri, Icahn said in a regulatory filing. Biogen’s sale process also included a confidentiality agreement “so restrictive” that it prevented potential acquirers from bidding, he said.
The company fell 79 cents to $58.13.
