Biogen Idec to Acquire Stromedix - Biogen (NASDAQ:BIIB)

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Biogen Idec (NASDAQ: BIIB) and Stromedix, Inc. today announced that they haveentered into a definitive agreement under which Biogen Idec will acquireStromedix Inc., a privately held biotechnology company focused on innovativetherapies for fibrosis and organ failure. Under the terms of the agreement,Biogen Idec will make an upfront cash payment of $75 million and additionalcontingent value payments of up to $487.5 million based on the achievement ofcertain development and approval milestones across multiple indications.

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