Biogen Idec’s (BIIB) Business Strategy To Maximize Shareholder Value

Standpoint Research initiated coverage on Biogen Idec Inc. (NASDAQ: BIIB) with a Buy recommendation and a 12 month price target of $70.

James C. Mullen, CEO of Biogen Idec said that the company's business strategy is centered on the following areas: Accelerating the growth of TYSABRI; Extending AVONEX and RITUXAN through lifecycle management; advancing the company's broad and deep pipeline of more than 20 programs in Phase 2 and beyond; and maintaining disciplined use of cash through a combination of strategic investments and returning cash to shareholders.