, Columnist
Biogen's New CEO Needs a New Plan
The early magic of outgoing George Scangos has faded.
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Even the best performers get stale.
Along with second-quarter earnings results that beat analyst estimates, an increase in full-year revenue guidance and a $5 billion buyback program, Biogen on Thursday announced that its CEO of six years, George Scangos, will step down in the next few months. Though Scangos oversaw a five-fold increase in Biogen's share price, investors may not shed too many tears.