Biogen Idec selects new board members

Biogen Idec has appointed healthcare industry veterans Dr Eric Rowinsky and Dr Stephen Sherwin as new members of its board of directors.

Both men join the company following lengthy careers in the sector, with Dr Rowinsky having served as a director for Adventrx Pharmaceuticals, while Dr Sherwin is the co-founder and chairman of biotechnology company Ceregene.

These appointments come as part of an agreement with Icahn Partners, with Dr Rowinsky having been proposed as a nominee by the investment group.

This arrangement will also involve Icahn Partners agreeing to vote its shares at the 2010 annual meeting for Biogen Idec’s nominees, while it will also be withdrawing its proposal to amend company bylaws to limit the size of the board.

William Young, chairman of the board of directors, said: “We believe that adding Drs Sherwin and Rowinsky, both of whom bring relevant skills and significant industry experience to the board, is a positive outcome for Biogen Idec.”

Last month, the company published its financial report for 2009, during which the company saw its total revenues increase by seven per cent.