Biogen 2nd-qtr results beat estimates; boss stepping down with slowing growth predicted

21 July 2016

George Scangos is to step down as the chief executive of US biotech major Biogen (Nasdaq: BIIB), it was announced on Thursday, when the company also revealed results for 2016’s second quarter which exceeded analysts’ expectations.

Dr Scangos will leave the Boston-based company in the coming months after a successor has been identified and has spoken of his pride at the progress made during his six years in the role.

This is proven by the latest quarterly results, which have led the company to raise its full-year forecasts and sent Biogen’s share price soaring by around 7% in Thursday morning’s trading

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