Biogen Idec Announces Certified Stockholder Vote Results, Confirming Election of All Four of the Board's Director Nominees
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Biogen Idec (NASDAQ: BIIB) today announced that IVS Associates, Inc., the independent Inspector of Election for Biogen Idec’s 2008 Annual Meeting of Stockholders, has certified that stockholders elected all four of the Board's nominees –Cecil B. Pickett, Ph.D., Lynn Schenk, J.D., Phillip A. Sharp, Ph.D., and Stelios Papadopoulos, Ph.D. – to the Biogen Idec Board of Directors by a substantial majority of the shares voted.
Based on the final tabulation, review and certification, Sharp received 98 percent of the votes cast. Each of the Board’s three other nominees received nearly 75 percent of the votes cast, compared to less than 25 percent for each of the three nominees proposed by Carl Icahn. In addition, based on the certified report, Mr. Icahn’s proposal to amend the Company's bylaws to set the size of the Board at 12 was opposed by nearly 75 percent of the shares voted.
Bruce R. Ross, Biogen Idec's Chairman, said, "Our Board is gratified by the election of all of our nominees and looks forward to continuing to deliver strong performance and generate value for our stockholders.”
Shareholders representing more than 222 million shares, or 76 percent of the Company's issued and outstanding common stock, either voted by proxy or in person at the meeting.
About Biogen Idec
Biogen Idec creates new standards of care in therapeutic areas with high unmet medical needs. Founded in 1978, Biogen Idec is a global leader in the discovery, development, manufacturing and commercialization of innovative therapies. Patients in more than 90 countries benefit from Biogen Idec's significant products that address diseases such as lymphoma, multiple sclerosis and rheumatoid arthritis. For product labeling, press releases and additional information about the company, please visit www.biogenidec.com.
Biogen Idec Media Contact:
Naomi Aoki, 617-914-6524
Director, Public Affairs
Biogen Idec Investor Relations Contact:
Elizabeth Woo, 617-679-2812
Vice President, Investor Relations