IDEC, Biogen announce U.S. Federal Trade Commission clearance of merger
IDEC Pharmaceuticals Corporation and Biogen Inc announced that the Federal Trade Commission has completed its review of their proposed merger and granted early termination of the waiting period under the Hart-Scott-Rodino Act.
The transaction remains subject to various closing conditions, including the approval of stockholders of IDEC Pharmaceuticals and Biogen and other regulatory approvals and filings. The proposed merger was announced on June 23, 2003. The combined company will be called Biogen IDEC Inc.