Biogen To Spend $75M For Fibrosis Drug Co. Stromedix

Law360, New York (February 14, 2012, 12:02 PM EST) -- Coming off a year in which its earnings topped $5 billion, drugmaker Biogen Idec Inc. has struck a deal to pay $75 million — and possibly much more — for privately owned Stromedix Inc. and its experimental fibrosis treatments, the companies said Tuesday.

Weston, Mass.-based Biogen, which had more than $3 billion in its coffers as of Dec. 31, could make up to $487.5 million in additional payments to Stromedix, which is owned by founder and CEO Michael Gilman, should the target company's experimental fibrotic disease...
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