Name change, new ambitions for Biogen

New York

BIOGEN IDEC Inc has seen its market value quadruple in three years to more than US$100 billion on the back of its successful multiple sclerosis drugs. Now it has new ambitions in its sights.

The Massachusetts-based company, which made headlines last week when it announced better-than-expected clinical trial results for its experimental Alzheimer's drug, aducanumab, said that it will drop Idec from its name as of Monday and adopt a new logo. The company merged with Idec Pharmaceuticals more than a decade ago.