Biogen Seeks New CEO; M&A Plans a Possibility

Source: Wall Street Journal

Jul 22, 2016

Biogen Inc. has announced that Chief Executive George Scangos will be leaving in the coming months.

Biogen has said it will be considering both internal and external candidates in its CEO search.

Scangos, who has been in the chief spot since 2010, will saty on board until a new CEO is named, as the biopharma company continues to work to reignite growth.

According to the WSJ, Leerink analysts are predicting “big M&A plans,” theorizing that Scangos’s departure could set Biogen up as a buyer or a takeover target.