Illumina Moving to Biogen Idec Campus
In reporting strong financial results yesterday, San Diego-based Illumina (NASDAQ: ILMN) said it will move its 1,100 San Diego employees into buildings that are being vacated by Cambridge, MA-based Biogen Idec. Illumina, which said its fourth-quarter revenue leaped by 45 percent, from $180.6 million in 2009 to $261.3 million in 2010, said there will be a variety of charges related to the move. Biogen Idec, which began layoffs in San Diego last month, is expected to shut down its operations here by mid-summer. As Luke has often noted, the companies that manufacture gene sequencing machines are on a tear. Illumina says its annual revenue is expected to grow 20 percent in fiscal 2011, to $902.7 million.