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☆ Alkermes wins battle against Sarissa in closely watched boardroom fight
▼ + stars: | 2023-06-29 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

NEW YORK, June 29 (Reuters) - Alkermes (ALKS.O) beat back activist investor Sarissa Capital Management's boardroom challenge on Thursday when shareholders re-elected all of the biotechnology company's directors in one of the year's most closely watched votes. But investors stuck by the company, which is valued at $5.4 billion, and returned all directors to their seats on the 11-member board. Glass Lewis, ISS's smaller rival, recommended shareholders back all Alkermes directors. Biogen shareholders this week elected Denner's romantic partner, Susan Langer, to fill his seat on the Biogen board after the board had nominated her. Both ISS and Glass Lewis referenced the Biogen matter in their recommendations on how to vote at Alkermes.

Persons: Alkermes, Nancy Wysenski, Sarah Schlesinger, Glass Lewis, Alex Denner, Susan Langer, Schlesinger, Sarissa, Svea Herbst, Bayliss, Chris Reese Organizations: YORK, Capital, Services, ISS, Svea, Thomson Locations: Alkermes, Biogen

☆ Sarissa's Denner quits Biogen board as firm seeks seats at Alkermes
▼ + stars: | 2023-06-14 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

The hedge fund's founder, Alex Denner, 53, one of three Sarissa candidates running for seats on Alkermes' 11-member board, on Monday said he would give up his board seat at biotech company Biogen (BIIB.O). The move eliminates "any claim of conflict whatsoever," Sarissa wrote to Alkermes shareholders on Tuesday. Alkermes shareholders will vote on directors on June 29 in what is one of the year's five biggest boardroom challenges. A Biogen representative confirmed that the board knew about the relationship between Denner and Langer. Denner, who has served on the Biogen board since 2009 and headed the nominating and governance committee, had nominated Langer.

Persons: Alex Denner, Sarissa, Biogen, Susan Langer, Alkermes, Denner, Langer, Bob Langer, Biogen's, Stelios Papadopoulos, Caroline Dorsa, Richard Mulligan, William Jones, Svea Herbst, Bayliss, Bill Berkrot, Mark Porter, Leslie Adler Organizations: YORK, Management, Moderna, Svea, Thomson Locations: Alkermes, Biogen

☆ A 53-year-old biotech investor is set to be replaced by a 32-year-old exec on Biogen's board. No one disclosed that the new board member is his girlfriend and the mother of his child.
▼ + stars: | 2023-06-13 | by ( Zachary Tracer | ) www.businessinsider.com time to read: +2 min

The biotech company Biogen is revamping its board of directors. The nominee, Susan Langer, is "highly qualified", Biogen said. Biogen, the $44-billion biotech company known for its work in Alzheimer's, is refreshing its board of directors. Standing for election as a replacement is Susan Langer, a 32-year-old biotech exec and former Biogen employee. Langer, a graduate of Cornell University, is the daughter of the biotech billionaire Robert Langer, known for cofounding Moderna.

Persons: wasn't, Susan Langer, Biogen, Alex Denner, Denner, Langer, Stat, Jack Cox, Ms, Cox, Denner didn't, Langer couldn't, Robert Langer, she's Organizations: Morning, Stat, Board, Stat News, Cornell University, cofounding Moderna, Souffle Therapeutics Locations: Alzheimer's, Biogen

Biogen — Shares of the biotech stock dipped 2.8% after Biogen revamped its board of directors. Oracle — Shares rose 0.2% to an all-time high on the back of a strong earnings report for the fiscal fourth quarter. Oil stocks — Oil shares rose broadly as WTI crude gained following Monday losses. Chinese internet stocks, metals and mining stocks — Shares of Chinese internet companies and metals and mining stocks jumped Tuesday after the People's Bank of China cut a key short-term policy rate in an effort to stimulate a post-Covid recovery. Metals and mining stocks were also boosted by the news, with shares of Freeport-McMoRan and Steel Dynamics rallying 5.3% and 6%, respectively.

Persons: Susan Langer, Biogen, Refinitiv, Goldman Sachs, Morgan Stanley, Transocean, JD.com, —, Samantha Subin, Sarah Min, Alexander Harring, Jesse Pound, С. Organizations: Biogen, Oracle, Revenue, Cruise Line Holdings, Bank of America, Royal, Urban Outfitters, Devon Energy, —, VanEck Oil Services, Halliburton, People's Bank of, CSI China, Metals, Steel Dynamics Locations: China, Gu'an, Royal Caribbean, Devon, Salt Lake City, People's Bank of China, Freeport, McMoRan

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