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Tuesday, May 12, 2009

Icahn: Biogen should split in two

Investor Carl Icahn wants the biotech to split in two, with one company focused on neurology and another on cancer. Icahn said separating Biogen's (BIIB) assets would enhance shareholder value. Icahn also said the neurology company could have generated $2.93 bil last year, the cancer firm $1.17 bil. He launched his second proxy battle for the company's board after losing a proxy fight with the company last year over the argument of finding a potential buyer. Biogen edged up 0.1% to 49.20.
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Posted by Senor Marquez at 10:25 PM

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