During the last three years, the market value of Biogen Idec has quadrupled to more than $100 billion as the company successfully launched multiple sclerosis drugs and now the company has new ambitions in its sight.

Last week, the Massachusetts-based company made an announcement that it has received better-than-expected clinical trial results for its experimental Alzheimer's drug, aducanumab.

Now the company has come up with another announcement that it is going to drop Idec from its name and will adopt a new logo. The company merged with Idec Pharmaceuticals more than 10 years ago.

Chief Executive George Scangos said that in future, Biogen will be focused on the development of the drugs, used for some of the hardest-to-treat diseases.

Scangos told Reuters that in the coming five years, if the company remained lucky, then they will have an Alzheimer's drug that's getting approved.

He added, “I hope we can transform the treatment of MS. By that time, we will have made substantial progress on ALS and other nerve degenerative diseases, spinal muscular atrophy in kids. All that stuff is on our plate”.

He said that they are sure of two things that not everything will work out and at the same time some of it will.

After the aducanumab news, on Friday, investors got excited and they sent Biogen shares 9.7% up. As a result of which the company's stock touched an all-time high of $480.18 during the session. Biogen is planning to begin a larger trial in the end of this year.

Michael King, JMP Securities analyst, said that if Biogen replicates the Alzheimer's data in Phase III, then they would conceivably have the biggest drug on the planet.