Just after adding a Director to the board in a deal, to avoid his third proxy battle with the company in many years, Billionaire investor Carl Icahn shared that he will push to sell Biogen Idec Inc.

Icahn revealed in a telephone interview today that Biogen has great drugs at the right price; hence, it should be sold to a big pharmaceutical company. He further added that for the efficient working of the company, it should be divided into two separate business units, one aiming at neurology and the other on cancer.

Chief Executive Officer James Mullen, who is 51 years old, will retire in June after spending a decade in the company. The Cambridge, Massachusetts-based company revealed that Biogen has added Eric Rowinsky, who is an oncologist and is selected by Icahn, and Stephen Sherwin (Chairman of the Biotechnology Industry Organization).

Biogen shared that Icahn withdrew his plan to limit the size of the board to 12 seats.

Biogen spokeswoman Amy Reilly said, "The agreement is the result of constructive dialogue and will benefit our shareholders. The company can stay focused on executing the CEO search and avoid the cost and distraction of a third proxy contest".