BILLIONAIRE INVESTOR Carl Icahn says he will push to sell Biogen Idec, just after adding a director to the board in a deal to avoid his third proxy battle with the company in as many years.

“Biogen has a great pipeline with great drugs, that at the right price” should be sold to a big pharmaceutical company, Mr Icahn said yesterday.

He also proposed splitting the company into two business units, one focusing on neurology and the other on cancer.

Biogen, the world’s largest maker of multiple sclerosis drugs – including Tysabri, which it developed with Irish group Elan – said in January that chief executive James Mullen (51) would retire in June after 10 years leading the company.

On Mr Mullen’s watch, Biogen temporarily recalled Tysabri, one of its top sellers, after it was linked to fatal brain infections.

Eric Rowinsky, an oncologist selected by Mr Icahn, and Stephen Sherwin, chairman of the Biotechnology Industry Organisation, are the new board members, the company said yesterday in a statement.

Mr Icahn withdrew his proposal to limit the size of the board to 12 seats, Biogen said.

He placed two directors on Biogen’s board following a proxy contest last year.

Biogen became embroiled in a battle for control with Mr Icahn in 2007 when the company abandoned a plan to sell itself.

Mr Icahn, known for buying into companies he deems undervalued and pushing for a change or sale, lost an ensuing proxy fight with the company in June 2008. – (Bloomberg)