Biogen Idec Exec Resigns Under Probe

A Biogen Idec Inc. executive resigned after federal regulators launched an investigation into his trading of another company’s stock, the biotech firm said.

The Securities and Exchange Commission notified Cambridge, Mass.-based Biogen on April 26 that it was looking into trades made by Nabil Hannah, a company executive vice president of research based in San Diego. Hannah resigned after an internal review, the company said.

Biogen said it was not a target of the SEC investigation. A company spokesman declined to identify the company that was the subject of Hannah’s scrutinized trades.

The announcement was made after the markets closed. In after-hours trading, the company’s stock fell 37 cents after gaining 45 cents in the regular session to $58.02 on Nasdaq.