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The Boston Globe


Biogen Idec agrees to buy Stromedix in deal worth up to $562m

Biogen Idec Inc., a large biotechnology company based in Weston, said it has agreed to buy Stromedix Inc., a privately held biotechnology company focused on therapies for fibrosis and organ failure.

Under the agreement, Biogen Idec said it will make an upfront cash payment of $75 million and additional contingent value payments of up to $487.5 million based on the achievement of development and approval milestones.

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