Biogen Idec's stock was up 4 percent in early trading Thursday after federal regulators approved the company's multiple sclerosis drug Tecfidera.

The Food and Drug Administration's decision on Wednesday came just days after the European Union backed the drug, a new oral treatment for people with relapsing forms of MS.

Biogen Idec, which employs more than 1,000 people at its Research Triangle Park campus, also makes the multiple sclerosis drugs Avonex and Tysabri.

Tecfidera could generate $3.25 billion in annual revenue by 2017, according to Bloomberg News.

Local drug maker Biogen Idec is dedicating 10 electric car rechargers this morning at its facility in Research Triangle Park as part of the federal government's subsidization push for electric cars.

The number of rechargers represents a new standard for corporate offices in the area, with a half-dozen other Triangle companies planning to install 10 rechargers in the coming months. The feds are paying more than a third of the cost of the rechargers and the electric cars in the Triangle phase of the program.

Biogen Idec, which develops drugs for multiple sclerosis, is based in Weston, Mass., and employs about 900 people at its manufacturing facility in RTP. Currently four of those employees drive plug-in electric cars to work, which means that more than half of the new rechargers will not be immediately used.

Nearly $50,000 of the cost of the rechargers at Biogen Idec was offset by federal stimulus funds distributed by the Triangle J Council of Governments, a regional planning organization. Outdoor chargers typically cost between $10,000 and $20,000.
 

White House officials and big-name CEOs will take a whirlwind tour of the Triangle Monday morning as the region awaits the arrival of President Barack Obama.

Members of Obama's administration and Jobs Council will divide up to meet and greet at ad agency McKinney and N.C. Central in Durham, Biogen Idec's and DuPont's operations in Research Triangle Park, and N.C. State's Centennial Campus in Raleigh.

The five "listening and action" sessions are tied to hot economic topics for politicians eager to prove they're fighting to produce more jobs, including entrepreneurship, biotechnology, energy innovation, workforce training and manufacturing. They'll hear from local business leaders, such as Duke Energy CEO Jim Rogers, Elster Solutions CEO Mark Munday and Geomagic CEO Ping Fu.

The group's local visit is scheduled to kick off with a reception at American Tobacco Historic District in Durham Sunday night, and will culminate with Obama's visit to Cree, the Durham-based LED lighting company.

Officials with the N.C. Biotechnology Center are in discussions with at least 20 companies that are considering expansion in this state.

"We've got a lot of things in the pipeline" and activity among prospects is picking up, said CEO Norris Tolson, in a phone interview. "Some are very early stage. We don't have anyone who's ready to announce next week."

The private, nonprofit Biotech Center is working on some potential economic development deals with the N.C. Commerce Department, projects that would likely involve tax breaks or other financial incentives from the state.

But others may skip such aid because incentives require specific hiring  and investment targets.

"Companies are being very pragmatic about what they're trying to do," Tolson said. "Sure, if they can nail down specific numbers, they would love to have incentives."

Biogen Idec is preparing to expand its Research Triangle Park campus, reinforcing the Massachusetts drug company's commitment to its operations in this region.

Officials plan to hold a ceremony on Thursday to begin construction of a 180,000-square-foot building. It will include a five-story administrative office wing and amenities such as cafeteria, auditorium and conference rooms.

The new space will give Biogen's nearly 850 existing employees more room, allow the company to exit some leased offices and could lead to additional hiring in the future.

"We're confident we will see job growth in RTP," although it's too soon to provide specific numbers, said spokesman Mike McBrierty.

That's one reason Biogen didn't seek state or local incentives to help pay for the project. Such awards typically are tied to job creation milestones.

Biotechnology company Biogen Idec outlined plans for a new 180,000 square foot building in Research Triangle Park in a regulatory filing earlier this month.

The company said it plans to consolidate all of its North Carolina administrative and patient services under one roof in a building to be constructed on its RTP campus.

The company could occupy the new building as early as the middle of next year, it wrote in its filing.

Biogen declined to comment beyond what it said in its regulatory filing.

Biogen owns roughly 550,000 square feet of office, warehouse, manufacturing and lab space in RTP. It also leases 50,000 square feet of office space in Durham.

The Massachusetts-based company announced in November that it would revamp its research efforts and eliminate 13 percent of its work force.
 

The new CEO of Biogen Idec, a Massachusetts company that employs more than 850 people at its campus in Research Triangle Park, is preparing a shake up of the company.

By the end of the year, George A. Scangos, who arrived at Biogen Idec in July, will unveil an operating blueprint calling for intensifying the focus on some drug programs while deemphasizing — or even selling off — others and accelerating the pursuit of drug development partnerships with other companies, he told the Boston Globe.

“I don’t think we should dabble,’’ Scangos, 62, told the paper in his first interview as CEO. “If we’re going to be in an area, I think we ought to do it with enough expertise and power and resources to be competitive and be among the leaders in that area.’’

Biogen Idec reported stronger fourth-quarter profit, bolstered partly by rising sales of its Tysabri medicine for multiple sclerosis.

The Massachusetts company makes Tysabri and other drugs at its campus in Research Triangle Park, where it employs about 850 people. About half of those make drugs and the rest handle patient services and support.

Net income of $305.6 million beat expectation of Wall Street analysts. Revenue rose to $1.13 billion, up 5.4 percent from the same quarter a year earlier.

Biogen Idec, which employs about 850 people in Research Triangle Park, is seeking a new top executive.

James Mullen, 51, who has been the Massachusetts company's CEO since 2000, plans to retire on June 8. He joined Biogen in 1989.

"Jim Mullen's more than 20 years of leadership have transformed Biogen Idec from a fledgling company with no marketed products to a global leader in the biotech industry," chairman William Young said in a prepared statement.

Biogen is the world's largest maker of multiple sclerosis drugs. The company manufactures two MS treatments, Avonex and Tysabri, at its 175-acre RTP campus. The company established the site in 1995, which also handles patient support services.