Scangos promises R&D action as he takes the reins at Biogen

Biogen Idec has officially confirmed the news that George Scangos (photo) will move from the CEO's post at Exelixis to become CEO of Biogen. And the 62-year-old Scangos wasted no time before promising analysts that he would bring some R&D discipline to Biogen Idec, which has been roiled as top execs fought a losing battle against Wall Street raider Carl Icahn. "At Exelixis, we were able to create a culture with a sense of urgency, a lack of bureaucracy, and great productivity-but with...

BMS writes off Exelixis’ lead cancer drug

Bristol-Myers Squibb and Exelixis are breaking up their partnership on the late-stage cancer drug XL184. BMS is handing over all its rights to the drug along with $17 million in the breakup, which comes on top of $240 million BMS has already paid for XL184 and a second cancer program. Exelixis CEO George Scangos told Reuters that the two companies couldn't come to an agreement on an appropriate clinical program for XL184, the developer's lead drug. The decision "really does reflect a need...