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`Biogen Idee to Acquire Fumaphann AG; Consolidates Ownership of
`Oral Compound BG-12 Being Studied for Multiple Sclerosis
`
`BIOWIRE2K
`
`May 31, 2006 07:00AM Eastern Daylight Time
`
`CAMBRIDGE, Mass. and LUCERNE, Switzerland-{BUSINESS WIRE)-May 31,
`2006-Biogen Idee {NASDAQ: BIIB) and Fumapharm AG, a privately held
`pharmaceutical company, today announced that they have signed a definitive
`agreement for the acquisition of Fumapharm by Biogen Idee.
`
`Fumapharm AG, founded in Switzerland in 1983, develops therapeutics derived from fumaric acid esters for
`patients with high unmet medical need. The company has two products: FUMADERM(R), a commercial product
`available in Germany for the treatment of psoriasis, and BG-12, a clinical-stage product that has been jointly
`developed with Biogen Idee. BG-1 2, an oral fumarate, is being studied for the treatment of multiple sclerosis
`(MS) and psoriasis.
`
`"This acquisition supports our goal of developing innovative therapeutic options for people living with MS." said
`James C. Mullen, Biogen Idee's President and Chief Executive Officer. 'We look forward to continuing the
`development of BG-12, a promising oral compound in MS. as well as expanding our European operations by
`working with Fumapharm's existing partners to provide FUMADERM to psoriasis patients in Germany."
`
`On May 30, 2006, Biogen Idee and Fumapharm announced positive results from a Phase II study designed to
`evaluate the efficacy and safety of BG-1 2 in patients with relapsing-remitting MS, The study achieved its primary
`endpoint, demonstrating that treatment with BG-12 1ed to a statistically significant reduction in the total number
`of gadolinium-enhancing brain lesions as measured by MRI with six months of treatment versus placebo.
`
`"Biogen Idee is perfectly positioned to continue the development of BG-12 because of its global commercial and
`regulatory experience and unsurpassed expertise in MS. We are proud ofthe work that Fumapharm has
`accomplished in the last 20 years and are confident that Biogen Idee will continue our legacy of helping
`patients," said Dr. Hans Peter Strebel. Chairman and CEO of Fumapharm.
`
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`The transaction, which has been approved by the boards of directors of both companies and is subject to
`customary closing conditions, is expected to close within the next two months. Upon completion, Biogen Idee
`will acquire all of the issued and outstanding shares of the capital stock of Fumapharm and will take over
`manufacture and sale ofFUMADERM for the treatment of psoriasis in Germany through Fumapharm's existing
`network. Financial terms of the transaction were not disclosed.
`
`AboutBG-t2
`
`In October 2003, Biogen Idee licensed certain exclusive wo~dwide rights to develop and market BG-12, oral
`fumarate derivative with an immunomodulatory mechanism of action, from Fumapharm. Biogen Idee and
`Fumapharm are evaluating BG-12 in a range of diseases, including MS and psoriasis. In April 2005, the
`companies announced that the primary endpoint was met in a Phase Ill study designed to evaluate the efficacy
`and safety of BG-12 in the treatment of moderate to severe psoriasis.
`
`In the Phase II MS study, the most commonly reportad adverse events were flushing, gastrointestinal disorders,
`headache, and nasopharyngitis. Liver enzyme elevations were reportad in 2% to 8% of the active 1reatment
`groups, compared to 5% in the placebo group. Infection rates were balanced.
`
`About Fumapharm AG and FUMADERM
`
`Fumapharm is a privately held pharmaceutical company headquartared in Lucerne, Switze~and. For more
`information, please visit http://www.fumapharm.ch.
`
`FUMADERM, an oral product containing fumaric acid esters, was approved in Germany in 1994 where it is the
`leading prescription for oral systemic treatment of severe psoriasis. Fumedica GmbH distributes FUMADERM in
`Germany.
`
`About Biogen Idee
`
`Biogen Idee creates new standards of care in oncology, neurology and immunology. As a global leader in the
`development, manufacturing, and commercialization of novel therapies, Biogen Idee transforms scientific
`discoveries into advances in human healthcare. For product labeling, press releases and additional information
`about the company, please visit www.biogenidec.com.
`
`Biogen Idee Safe Harbor
`
`This press release contains forward-looking statements regarding the acquisition of Fumapharm, the
`development of BG-12, and the availability of FUMADERM. These statements are based on the companies'
`current beliefs and expectations. Drug development involves a high degree of risk. Factors which could cause
`actual results to differ materially from the companies' current expectations include the risk that unexpected
`concerns may arise from additional data or analysis; that regulatory authorities may require additional
`information, further studies, or may fail to approve the drug; the impact of competitive products on the company's
`products, a change in market acceptance of FUMADERM; and that the company may encounter other
`unexpected hurdles. For more detailed information on the risks and uncertainties associated with Biogen Idee's
`drug development and other activities, see the section entitled "Risk Factors" in Biogen Idee's annual report on
`form 1 0-K for the fiscal year ended December 31,2005 that was filed with the Securities and Exchange
`Commission, as well as the other periodic and current reports of Biogen Idee filed with the Securities and
`Exchange Commission. Biogen Idee assumes no obligation to update any forward-looking statements, whether
`as a result of new information, future events or otherwise.
`
`Contacts
`Biogen Idee Media Contact:
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`Page 2 of 3
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`Jose Juves, Director, Public Affairs
`617-914-6524
`or
`Kalja Buller, Director, Public Affairs
`41 41 392 1792
`or
`Biogen Idee Investment Community Contact:
`Elizabeth Woo, Vice President, Investor Relations
`617-679-2812
`
`Page 3 of 3
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