Forbes Magazine annually compiles a list of the world's 2,000 largest companies. From this list the editors at Forbes create several lists of sub-categories. It should be no surprise that Biogen Idec was placed in the top-five of 'Global High Performers' in the Drug & Biotechnology industry.
This recognition comes on the heels of Biogen Idec's strong financial performance in 2008 and continued positive results for the first quarter of 2009. And it was only last October when Biogen Idec was named Pharmaceutical Executive Magazine's 'Company of the Year'. These honors validate the company's leadership, financial management, 2015 Vision, and the hard work and commitment of all employees.
"This is a real honor," said Chief Financial Officer, Paul Clancy. "We've all worked together to build a superb company – it is heartening to receive this recognition," he added.
In addition to Biogen Idec, the other companies on the 'Global High Performers' list are United States based Abbott Laboratories, and Gilead Sciences, Australia's CSL, and Novo Nordisk of Denmark. These companies were culled from Forbes' list of 45 Drug & Biotechnology companies which included notable names such as J&J, Roche, Pfizer, Novartis, GSK, Amgen Genzyme, Takeda, Celgene, Shire and Vertex.
How did Biogen Idec make the list?
Forbes first compiles a list of the 2,000 largest companies in the world. Unlike other lists that only rank companies on one factor such as revenue or assets, Forbes builds theirs on four equally weighted factors: sales, profits, assets and market value. On this basis Biogen Idec ranks 820 out of 2,000.
To make the 'Global High Performers' list they take into account the five-year average growth in sales and net income, the five-year annualized total return, estimated growth in earnings per share and debt-to-capital ratios. They also removed companies from consideration that were found to have 'potential problems with accounting techniques, earnings quality or corporate governance.'
Congratulations to Biogen Idec employees around the globe for earning this recognition and all your effort.
