Oh, TOO funny! I just now went back and took another look at their 10Q. All last year they were fighting RICO charges against them!
(That's racketeering, by the way.) They settled, but I had to laugh.
You know, they say they submitted application to the FDA in the second quarter of 2004, but the FDA doesn't show record of it (yet). Weird.
Ok...here it is:
" In July 2004, we announced that we will be restarting construction of our large-scale biologic manufacturing facility in Hillerød, Denmark to be used to manufacture products in the pipeline and will expand our global large-scale manufacturing capacity to 270,000 liters. The estimated cost of the project is estimated to be $340.0 million. As of June 30, 2004, we had committed approximately $0.4 million to the project. The facility is expected to be substantially complete in 2007 and available for commercial production in 2008."
Yea, they are into all kinds of stuff, but for some reason, I found this next item particularly interesting. I was JUST going to say that it almost looks like they are setting themselves up as venture capitalists! And then I came across this! HAH!
" In May 2004, we entered into a limited partnership agreement as a limited partner with MPM Bioventures III GP, LP, to create MPM Bioventures Strategic Fund, L.P, or the Strategic Fund. The purpose of the Strategic Fund is to make, manage, and supervise investments in relevant biotechnology companies with novel products or technologies that fit strategically with Biogen Idec. The Strategic Fund takes only minority positions in the equity of its investments, and does not seek to engage in day-to-day management of the entities. We have committed $65.0 million to the Strategic Fund over a three-year period. Through June 30, 2004, we have contributed $2.1 million to the Strategic Fund. We have consolidated the Strategic Fund in our consolidated financial statements at June 30, 2004. There were no significant expenses related to the Strategic Fund included in our operating results through June 30, 2004."
Hey! Maybe these ARE the guys I should send my research to!!!
In any event, these guys are interesting!
EDIT: Oh, it looks like their Netherlands thing is in connection to their "packaging" operations.