Biogen Idec (NASDAQ:[[ticker:BIIB]]) said on February 11 that its board of directors has given the Weston, MA-based company permission to repurchase 20 million shares of its common stock to offset stock issuances under its share-based compensation plans. The company, the world’s largest provider of multiple sclerosis drugs, said that there is no experation date on the stock repurchase. The stock closed at $65.83 per share on February 11, making 20 million shares worth about $1.3 billion, according to figures from Google Finance.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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