Biogen Idec CEO retiring in June

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CAMBRIDGE, Mass. (AP) — Biogen Idec Inc. said Monday that CEO James C. Mullen will retire June 8 and the biotechnology company has started a search for his successor.

Mullen, 51, will also retire from the company’s board of directors when his term expires in 2010.

Shares of Biogen rose 14 cents to close at $53.64.