And a similar--but less extreme--calculus applies to other companies being touted as potential Biogen buyers.
That would be a huge distraction for researchers both at Pfizer and at Biogen.
The newly approved psoriasis medicine, Raptiva, will battle it out with Amgen and Biogen Idec drugs.
Year-to-date, Gilead is ahead 31 percent, Celgene 50 percent and Biogen easily a snappy 35 percent.
Biogen Idec has a new drug for chronic lymphocytic leukemia, which causes 20% of leukemia deaths.
Both of the patients were also taking Avonex, a second drug made by Biogen Idec.
Amid its difficulties, Biogen put itself on the block in 2007, then dropped the plan.
Astrue , who has served as general counsel at both Transkaryotic and Biogen .
Biogen's only drug, the multiple sclerosis fighter Avonex, is under heavy fire from Serono's Rebif.
Its drug fights psoriasis, but Biogen, Amgen and Genentech won't quietly get out of the way.
Analysts are split on Biogen Idec, but 11 of 22 analysts rate it hold.
Without the Orphan Drug Act, there would probably be no Biogen Idec, no Genzyme, Alexion Pharmaceuticals.
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But no new cases have sprung up, and Biogen has offered bullish forecasts on the drugs sales.
One advantage: MIT Professor Phillip Sharp , one of the scientists behind Biogen, is also a founder.
That's true even though Amevive, for psoriasis, and Zevalin, for lymphoma, have been small sellers for Biogen.
As the deal is structured now, someone buying Biogen shares would get a very small merger premium.
Also, Biogen faces heavy competition with two of its big drugs: Avonex (multiple sclerosis) and Amevive (psoriasis).
Novartis competitor Biogen Idec is plying a slightly different approach that could have broader effects on neurons.
In 1995 Biogen began clinical trials of Amevive, ultimately testing it in 1, 300 humans over six years.
Should Amevive win the FDA's okay, Biogen plans to establish a registry of patients to do that.
Biogen Idec and Genentech are fighting over the rights to the Rituxan-like drug and have entered arbitration.
Small firms are flourishing, and bigger companies such as DaimlerChrysler and Biogen are moving into the area.
Scangos knew the oncology business from running Exelixis, and he thought Biogen had too few good ideas.
For two years before Scangos arrived, Biogen had not even had a head of research and development.
Other competitors in the healthcare sector include: Pfizer (PFE), Biogen Idec (BIIB), and GlaxoSmithKline (GSK).
Elan and Biogen IDEC are submitting to the FDA based on a one-year analysis of a two-year study.
Even after the latest upturn, however, historical valuation metrics indicate that Biogen Idec shares may be attractive.
Both Biogen and IDEC, he reasons, have recently done licensing deals with Genentech over relatively early stage research.
The third is Vicki Sato, who serves on the BMS Board, and was formerly of Vertex and Biogen.
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The hemophila data are the first of a series of catalysts expected for Biogen Idec in coming months.
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