Biogen Idec is one of the leading pharmaceutical companies in the world. Founded in 1978 in Cambridge, Massachusetts, the company has a long and proud history of innovation and success. With a current market capitalization of over $50 billion and a wide array of successful drugs, Biogen Idec has become an important player in the global economy. But how has the stock price of Biogen Idec changed over the years?
Early Years
The stock price of Biogen Idec has been on a steady upward trajectory since its inception in 1978. In its early years, the company was known as Biogen, Inc. and was focused on the development and sale of therapeutic proteins. By the early 1990s, the company had shifted its focus to biotechnology, which resulted in significant growth in its stock price. Between 1992 and 1995, the stock price of Biogen Idec rose from $2.80 per share to around $42 per share.
The Turn of the Millennium
The stock price of Biogen Idec continued to climb throughout the 1990s, reaching a peak of around $122 per share in 1999. This represented an increase of almost 400% from the stock price of five years earlier. After the turn of the millennium, the stock price of Biogen Idec continued to increase and reached a high of $250 per share in 2001. This represented an increase of over 100% from the previous year.
The Great Recession
The stock price of Biogen Idec was hit hard by the global financial crisis of 2008-2009. The stock price dropped from a high of $250 per share in 2007 to a low of $48 per share in 2009. This represented a decrease of over 80%. Despite this, the stock price of Biogen Idec had recovered to $125 per share by 2011.
Recent Performance
Since 2011, the stock price of Biogen Idec has been on a steady upward trend. The company’s stock price rose to $350 per share in 2015, representing an increase of almost 200% from the stock price of five years earlier. By 2018, the stock price of Biogen Idec had increased to $390 per share, representing an increase of almost 11% from the previous year.
The Future of Biogen Idec Stock Price
The future of Biogen Idec stock price is difficult to predict. The company has developed a number of promising new drugs in recent years and has plans to launch new products in the coming years. However, the stock price of Biogen Idec will also be affected by factors such as the global economy, the performance of its competitors, and the success of its products. In any case, the stock price of Biogen Idec is likely to remain volatile in the near-term.
Conclusion
The stock price of Biogen Idec has had a roller coaster ride over the past few decades. The company’s stock price has risen from around $2.80 per share in the early 1990s to around $390 per share today. The future of Biogen Idec stock price will depend on a variety of factors, but the company is expected to remain a major player in the global pharmaceutical industry.