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45-599: Many leading scientists joined G.I. from academia and it proved to be a fertile source of patents for some time. One of the two largest national clusters of biotechnology in the U.S. (the other being the San Francisco Bay area), the greater Boston area has been the birthplace of many innovative corporations and non-profit research centers. Beginning in the late 1970s and 1980s, this biotech trend saw three early large for-profit corporations: Biogen (now Biogen Idec), Genzyme , and Genetics Institute. MIT's Whitehead Institute

90-628: A global licensing deal to develop compounds for neuromuscular and neurological diseases. In September 2020, Biogen Inc. made a $ 10 million deposit in OneUnited Bank to provide more capital to fund home loans and commercial development in Black communities. In November, the company announced it would acquire a $ 650 million stake in Cambridge-based Sage Therapeutics and make an upfront payment of $ 875 million, in order to jointly develop

135-784: A number of depression treatments. In July 2023, it was announced Biogen had acquired the Plano, Texas -headquartered biotech company, Reata Pharmaceuticals for nearly $ 6.5 billion. In May 2024, Biogen acquired Human Immunology Biosciences (HI-Bio) for $ 1.15 billion. In 2007, the company reached a licensing agreement with Neurimmune, a spin-off from the University of Zurich, for the Alzheimer's disease drug, Aducanumab , developed by this Swiss company. Later, Neurimmune sold its rights for license fees for $ 200 million to Biogen. In December 2014, Biogen announced that Aducanumab for Alzheimer's treatment

180-469: A setback in their drug research, Biogen's shares fell sharply that same month. It ended the trial of Aducanumab, which it was making along with Eisai . In October 2019, however, they announced that they would pursue FDA approval together with Eisai. On October 22, 2019, despite two Phase 3 clinical trials being previously halted for futility, Biogen announced its plan to submit for FDA's approval of Aducanumab. In May 2020, Biogen wrapped up construction on

225-611: A state-of-the-art facility in Solothurn , Switzerland , which will produce Aducanumab by late 2021, alongside its North Carolina manufacturing facility. The monoclonal antibody , co-developed with Eisai , attracted considerable interest from biotech investors when Warren Buffett 's Berkshire Hathaway bought 648,447 Biogen shares at a combined value of $ 192.4 million. On July 8, 2020, Biogen and Eisai announced that both companies had together successfully submitted for Aducanumab's FDA regulatory and marketing approval. On June 7, 2021,

270-614: A treatment for Spinal Muscular Atrophy. The drug is among the most expensive treatments available, with a price of $ 750,000 for the first year of doses, and $ 375,000 for each subsequent year and likely for the rest of a patient's life. While there still isn't a cure, Spinraza significantly improves the quality of life in infants and adults. In 2017, Biogen announced that its drug Fampyra converted from conditional marketing authorization to standard marketing approval. EU multiple sclerosis (MS) patients use Fampyra to improve walking. In February 2020, Biogen and Sangamo Therapeutics announced

315-765: Is an American stock exchange based in New York City . It is the most active stock trading venue in the U.S. by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange . The exchange platform is owned by Nasdaq, Inc. , which also owns the Nasdaq Nordic stock market network and several U.S.-based stock and options exchanges . Although it trades stock of healthcare, financial, media, entertainment, retail, hospitality, and food businesses, it focuses more on technology stocks . The exchange

360-621: Is made up of both American and foreign firms, with China and Israel being the largest foreign sources. "Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 by the National Association of Securities Dealers (NASD), now known as the Financial Industry Regulatory Authority . On February 8, 1971, the Nasdaq stock market began operations as

405-518: Is not a comprehensive list): On March 5, 2020, Biogen reported that three individuals who met with their employees at a conference in Boston had tested positive for COVID-19 the previous week. On March 6, public health officials reported five new cases associated with the Biogen leadership meeting and by March 9, Massachusetts health officials had announced 30 new presumptive COVID-19 cases, all connected to

450-487: Is one of the drug's producers. In 2011, Biogen announced that its drug Fampyra received conditional marketing approval . Under the conditional approval, Biogen agrees to provide additional data on the long-term benefits and safety of Fampyra. On December 10, 2012, Biogen announced its global collaboration agreement with Isis Pharmaceuticals to develop and research antisense drugs to treat neurological and neuromuscular diseases . In February 2013, Bloomberg broke

495-504: The FDA gave accelerated approval to Aducanumab under the name Aduhelm, which proved to be controversial. The drug was priced at $ 56,000 US dollars per year, but it was not covered by many insurers as they awaited further proof that the drug was effective. The US Government did not subsidise it outside clinical trials. According to the FDA's website, the drug was proven to reduce amyloid-beta plaques in

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540-531: The London Stock Exchange to form the first intercontinental linkage of capital markets . In 1996, the SEC issued a report alleging that Nasdaq market makers fixed prices by avoiding "odd-eighths" quotes (at the time, stock prices were quoted in increments of an eighth of a dollar) to artificially widen spreads. The report was followed by a new set of rules for how Nasdaq handled orders. In 1998, it became

585-584: The NASDAQ Financial-100 Index, which tracks the largest 100 companies in terms of market capitalization . On March 10, 2000, the NASDAQ Composite stock market index peaked at 5,132.52, but fell to 3,227 by April 17, and, in the following 30 months, fell 78% from its peak. In a series of sales in 2000 and 2001, FINRA sold its stake in the Nasdaq. On July 2, 2002, Nasdaq Inc. became a public company via an initial public offering . In 2006,

630-917: The University of Zurich (Weissmann contributed the first product interferon alpha ). Gilbert and Sharp were subsequently honored with Nobel Prizes : Gilbert was recognized in 1980 with the Nobel Prize in Chemistry for his understanding of DNA sequencing and Sharp received the Nobel Prize in Physiology or Medicine in 1993 for his discovery of split genes . In 2003, Biogen merged with San Diego, California -based IDEC Pharmaceuticals (formed in 1985 by University of California-San Diego 's physicians and immunologists Ivor Royston and Robert E. Sobol, San Diego bio entrepreneur Howard Birndorf , and Stanford University cancer researchers Ron Levy and Richard Miller) and adopted

675-444: The Biogen conference. Researchers first estimated that the conference would be linked to over 20,000 of the state's coronavirus cases. Researchers later estimated that up to 300,000 cases worldwide had been caused by the Biogen conference, including 1.6% of all U.S. cases of the coronavirus. For the fiscal year 2017, Biogen reported earnings of US$ 2.539 billion, with an annual revenue of US$ 12.274 billion, an increase of 7.2% over

720-653: The EMiniCME. Below are the contract specifications for the Nasdaq 100 and derivatives. Nasdaq quotes are available at three levels: The Nasdaq Stock Market sessions, with times in the Eastern Time Zone are: 7:00 a.m. to 9:30 a.m.: extended-hours trading session (premarket) 9:30 a.m. to 4:00 p.m.: normal trading session 4:00 p.m. to 8:00 p.m.: extended-hours trading session (postmarket) The Nasdaq Stock Market averages about 253 trading days per year. The Nasdaq Stock Market has three different market tiers: After

765-486: The FDA voted against approval of this drug. On June 7, 2021, the FDA granted approval of Aducanumab for the treatment of Alzheimer's disease. Aducanumab was approved using the accelerated approval pathway, and Biogen will be required to conduct a post-approval clinical trial to verify clinical benefit for continued approval. NASDAQ The Nasdaq Stock Market ( / ˈ n æ z d æ k / ; National Association of Securities Dealers Automated Quotations)

810-451: The brain, which was likely to benefit patients. The FDA has stated that if the post-approval trial did not indicate that Aduhelm works, the drug may be taken out of the market. Biogen abandoned the drug in January 2024, for financial reasons. In May 2016, the company announced that it would spin off its hemophilia drug business ( Eloctate and Alprolix ) into a public company. In August,

855-523: The brains of people with early-stage Alzheimer's disease, according to a report published in Nature on August 31, 2016. On March 21, 2019, Biogen announced that the Phase 3 clinical trials of Aducanumab were halted. Biogen announced it would acquire Nightstar Therapeutics for $ 25.50 per share ($ 800 million in total). Nightstar focused on adeno-associated virus based gene-therapies for inherited retinal disorders. With

900-480: The company announced it would acquire Syntonix Pharmaceuticals for up to $ 120 million, gaining Syntonix's lead product for hemophilia B as well as the technology for developing inhalable treatments. In 2008, two new brain infection cases from Tysabri users surfaced in Europe that raised international concern about Tysabri and its effects with the progressive multifocal leukoencephalopathy (PML) brain condition. Biogen

945-453: The company announced that the spun off company would be called Bioverativ , in order to show heritage with Biogen. The company would trade on the NASDAQ exchange under the ticker symbol BIVV and would look to be spun off in early 2017. Bioverativ was acquired by Sanofi in 2018. The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this

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990-634: The continued price increases when selling market data . In December 2020, NASDAQ announced that it would strip its indexes of four Chinese companies in response to Executive Order 13959 . In September 2024, the European Commission said it had carried out an unannounced inspection at the offices of Nasdaq over potential anti-competitive practices. Nasdaq 100 futures are traded on the CME (Chicago Mercantile Exchange) while its derivatives, E-Mini Nasdaq 100 and Micro E-Mini Nasdaq 100 futures are traded on

1035-603: The development and commercialization of ALPROLIX. Commercialized in the United States as AMPYRA (dalfampridine) Extended Release Tablets, by Acorda Therapeutics . Acquired in acquisition of Fumapharm AG in 2006. Currently commercialized in the United States by Genentech, a wholly owned subsidiary of Roche. Anti-TNF Refractory Rheumatoid Arthritis ANCA-Associated Vasculitis Chronic lymphocytic leukemia 2006 2011 Currently commercialized by Roche and its subsidiary, Genentech. Biogen focused its R&D efforts on

1080-589: The development of Convergence's pipeline, in particular CNV1014802 – a Phase II small molecule sodium channel blocking candidate. In October 2015, the company announced that it would lay off 11% of its workforce, effective immediately. On May 3, 2016, Biogen announced to spin off its hemophilia business, known as Bioverativ . The hemophilia business would become an independent publicly traded company. Bioverativ offered two hemophilia drugs in 2016, Alprolix and Eloctate, and plans on developing its Hemophilia-focused goals. In 2016, Biogen released Spinraza (nusinersin),

1125-510: The discovery and development of treatments for patients with high unmet medical needs in the areas of neurology, hematology, and immunology. Investigational MS medicines: Biogen has several candidates in Phase 1 and 2 clinical trials in neurodegenerative and immunological diseases including MS, neuropathic pain, spinal muscular atrophy and lupus nephritis: Biogen also has several development agreements in place with Ionis Pharmaceuticals to collaborate to leverage antisense technology in advancing

1170-476: The end of its independent existence, G.I. created a program to share "a library of several thousand genes and their related proteins that could be scanned for potential new drugs." This program was based on a G.I. technology that allowed it to identify proteins secreted by cells and therefore more likely to be therapeutic in the body. Wyeth (American Home Products at the time) acquired a majority interest in GI in 1992 and

1215-529: The eve of the United Nations Conference on Sustainable Development (Rio+20). In November 2016, chief operating officer Adena Friedman was promoted to chief executive officer , becoming the first woman to run a major exchange in the U.S. In 2016, Nasdaq earned $ 272 million in listings-related revenues. In October 2018, the SEC ruled that the New York Stock Exchange and Nasdaq did not justify

1260-461: The first stock market in the United States to trade online, using the slogan "the stock market for the next hundred years". The Nasdaq Stock Market attracted many companies during the dot-com bubble . Its main index is the NASDAQ Composite , which has been published since its inception. The QQQ exchange-traded fund tracks the large-cap NASDAQ-100 index, which was introduced in 1985 alongside

1305-461: The monthly Stock Guides (stock guides and procedures) issued by Standard & Poor's Corporation. Over the years, it became more of a stock market by adding trade and volume reporting and automated trading systems. In 1981, Nasdaq traded 37% of the U.S. securities markets' total of 21 billion shares. By 1991, Nasdaq's share had grown to 46%. In 1992, the Nasdaq Stock Market joined with

1350-450: The name Biogen Idec. After the merger, Biogen Idec became the 3rd largest Biotechnology company in the world. Following shifts in research core areas, the company has since shortened its name, reverting to simply Biogen. Biogen stock is a component of several stock indices such as the S&;P 500 , S&P 1500 , and NASDAQ-100 and the company is listed on the NASDAQ stock exchange under

1395-488: The news that Biogen was planning to pay Elan $ 3.25 billion for the full rights to Tysabri , used to treat multiple sclerosis. In 2013, Biogen was the first U.S.-based biotechnology company to appear on the Dow Jones Sustainability World Index . In January 2015, the company announced that it would acquire Convergence Pharmaceuticals for up to $ 675 million, with the acquisition aiming to accelerate

Genetics Institute - Misplaced Pages Continue

1440-675: The potential to reduce Aβ plaques that form in the brains of patients, as well as to slow the formation of new plaques, potentially improving symptoms and suppressing disease progression. Biogen also has since 2015 an agreement with AGTC to develop gene therapy for several genetic diseases, including X-linked retinoschisis (XLRS) and X-linked Retinitis pigmentosa (XLRP) ophthalmologic diseases. To this aim, Biogen paid AGTC $ 124 million, including an equity investment of $ 30 million, and up to 1,1 billion in future milestones. In March 2019, Biogen halted Phase 3 trials of Alzheimer's disease drug Aducanumab after "an independent group's analysis show[ed] that

1485-483: The previous fiscal cycle. Biogen's shares traded at over $ 289 per share, and its market capitalization was valued at over US$ 63 billion in November 2018. The company ranked 228 on the 2021 Fortune 500 list of the largest United States corporations by revenue. Biogen and Japanese Eisai are collaborators in the development and commercialization of ADUHELM. Biogen and Swedish Orphan Biovitrum (Sobi) are collaborators in

1530-643: The remaining interest at the end of 1996. The company became part of Wyeth's Research division. Biogen Biogen Inc. is an American multinational biotechnology company based in Cambridge, Massachusetts , United States specializing in the discovery, development, and delivery of therapies for the treatment of neurological diseases to patients worldwide. Biogen operates in Argentina, Brazil, Canada, China, France, Germany, Hungary, India, Italy, Japan, Mexico, Netherlands, Poland, Sweden, and Switzerland. Biogen

1575-812: The status of the Nasdaq Stock Market was changed from a stock market to a licensed national securities exchange. In 2007, it merged with OMX, a leading exchange operator in the Nordic countries, expanded its global footprint, and changed its name to the NASDAQ OMX Group. To qualify for listing on the exchange, a company must be registered with the United States Securities and Exchange Commission (SEC), must have at least three market makers (financial firms that act as brokers or dealers for specific securities) and must meet minimum requirements for assets, capital, public shares, and shareholders. In February 2011, in

1620-399: The ticker symbol, BIIB. In May 2006, the company announced it would acquire cancer specialist, Conforma Therapeutics for $ 250 million. Later in the same month, the company announced its intention to acquire Fumapharm AG, consolidating ownership of Fumaderm and BG-12 , an oral fumarate , which was being studied for the treatment of multiple sclerosis and psoriasis . In January 2007,

1665-548: The treatment of neurological disorders. In February 2012, Biogen formalized a joint venture with Samsung , creating Samsung Bioepis. This joint venture brings Biogen's expertise and capabilities in protein engineering, cell line development, and recombinant biologics manufacturing to position the joint venture so Biogen can participate in the emerging market for biosimilars. In early 2014, Biogen entered into an agreement with Eisai, Inc., to jointly develop and commercialize two of their candidates for Alzheimer's disease, which have

1710-508: The trials were unlikely to 'meet their primary endpoint.'" However, in October 2019 they reversed their plans and said that they would be pursuing US FDA approval for Aducanumab. The reversal came after Biogen said a new analysis of a larger patient pool showed promising results. In July 2020, Biogen completed submission of a Biologics license application (BLA) to the FDA for review, and requested accelerated review. However, an advisory panel for

1755-480: The wake of an announced merger of NYSE Euronext with Deutsche Börse , speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a counter-bid of their own for NYSE. NASDAQ OMX could be looking to acquire the American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE Euronext's market value was $ 9.75 billion. Nasdaq was valued at $ 5.78 billion, while ICE

1800-460: The world's first electronic stock market. At first, it was merely a "quotation system" and did not provide a way to perform electronic trades. The NASDAQ Stock Market eventually assumed the majority of major trades that had been executed by the over-the-counter (OTC) system of trading, but there are still many securities traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as "OTC" in media reports and also in

1845-535: Was founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in 2001 and became NASDAQ Europe. In 2003, operations were shut down as a result of the burst of the dot-com bubble . In 2007, NASDAQ Europe was revived first as Equiduct and was acquired by Börse Berlin later that year. On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable Stock Exchanges Initiative on

Genetics Institute - Misplaced Pages Continue

1890-523: Was founded in 1978 in Geneva as Biotechnology Geneva by several prominent biologists, including Kenneth Murray from the University of Edinburgh , Phillip Allen Sharp from the Massachusetts Institute of Technology , Walter Gilbert from Harvard University (Gilbert served as CEO during the start-up phase of Biogen), Heinz Schaller from the University of Heidelberg , and Charles Weissmann from

1935-680: Was one of the seminal non-profit research centers in this field locally, among many others. Aside from MIT, Harvard, Boston University and several teaching hospitals including Massachusetts General Hospital and Brigham and Women's were important contributors to the local field's development. G.I.'s Products (or potential candidates for products) included forms of M-CSF , interleukin-3, interleukin-11 (Neumega), bone morphogenetic protein 2,recombinant human Factor IX, and recombinant human Factor VIII (Recombinate); as well as tissue plasminogen activator and erythropoetin that both involved costly, complex lawsuits over patent infringement with competitors. Toward

1980-597: Was preparing to go through a late-stage trial of its experimental Alzheimer's disease treatment after the medication dramatically improved cognition and reduced brain plaque levels in early-stage study. In March 2015, Aducanumab became the first experimental Alzheimer's treatment to show significant results in regard to slowing down cognitive decline and reducing brain-destroying plaques. In July 2015, Biogen initiated two late-stage studies called ENGAGE and EMERGE, which will assess Aducanumab in adults with early Alzheimer's disease. In 2016, Aducanumab decreased amoyloid-beta in

2025-646: Was valued at $ 9.45 billion." Late in the month, Nasdaq was reported to be considering asking either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it proceeded, an $ 11–12 billion counterbid. In December 2005, NASDAQ acquired Instinet for $ 1.9 billion, retaining the Inet ECN and subsequently selling the agency brokerage business to Silver Lake Partners and Instinet management. The European Association of Securities Dealers Automatic Quotation System (EASDAQ)

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