Biogen Inc.NASDAQ
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  • Wed, Aug. 3, 12:17 PM
    • The report from David Faber echoes one from the network's Meg Tiffell last night, but perhaps with more conviction.
    • As for Merck (MRK -1.4%) - also rumored to have interest in Biogen (NASDAQ:BIIB) - Faber has nothing new to report.
    • Biogen is lower by 4% today, but remains about 5% higher than the price it was at prior to yesterday's WSJ report of buyout interest.
    • Allergan (AGN +1.7%)
    | Wed, Aug. 3, 12:17 PM | 13 Comments
  • Tue, Aug. 2, 5:32 PM
    • Lumped in with Merck earlier on chatter that it would consider taking over Biogen (NASDAQ:BIIB), Allergan (NYSE:AGN) is unlikely to pursue such a deal, CNBC biotech/pharma reporter Meg Tirrell says.
    • Biogen -- which finished the day up 9.4% after earlier news broke -- is down 2.5% after hours. Allergan, meanwhile, has turned up 0.5% in the late session after declining 1.6% today.
    • Biogen saw its market cap rise to just over $75B today. It's looking for a new chief after CEO George Scangos said last month he was departing following six years in the post.
    | Tue, Aug. 2, 5:32 PM | 1 Comment
  • Tue, Aug. 2, 2:46 PM
    • Biogen (NASDAQ:BIIB) has jumped 5.6% into a trading halt as chatter centers on a potential takeout from Allergan (NYSE:AGN) or Merck (NYSE:MRK).
    • IShares Nasdaq Biotech index (NASDAQ:IBB) jumped from the red to a 0.8% gain.
    • Biogen might not go for a deal, but the two suitors have tested the waters, the WSJ reports.
    • The company's worth more than $68B, setting up what could be the sector's next blockbuster deal.
    • Updated 2:51 p.m.: Back on the move, Biogen is now up 7.3%.
    | Tue, Aug. 2, 2:46 PM | 46 Comments
  • Thu, Jul. 14, 4:32 PM
    • Juno Therapeutics (NASDAQ:JUNO) acquires privately held Boston, MA-based RedoxTherapies. Juno's primary aim of the deal was to secure an exclusive license to vipadenant, a small molecule adenosine A2a receptor antagonist that may disrupt key immunosuppressive pathways in the tumor microenvironment in certain cancers.
    • Redox licensed vipadenant from London-based Vernalis in October 2014. It was under development for the treatment of Parkinson's disease by Biogen (NASDAQ:BIIB) but safety concerns scuppered the effort in 2010 despite encouraging efficacy in mid-stage studies. Biogen returned the rights to Vernalis in 2011.
    • Under the terms of the transaction, Juno will pay $10M in upfront cash plus undisclosed milestones.
    | Thu, Jul. 14, 4:32 PM | 10 Comments
  • Jul. 28, 2015, 2:38 AM
    • So what's Allergan (NYSE:AGN) doing with all that cash from the Teva deal? CEO Brent Saunders plans to use the money to increase the size of the firm's existing drug business, expand into new therapy areas and pursue larger deals.
    • When asked if Allergan planned to spend the cash within 18 months, Saunders replied that he would, as long as the company could maintain its investment-grade credit rating.
    • Possible targets: Biogen (NASDAQ:BIIB), AbbVie (NYSE:ABBV) and Amgen (NASDAQ:AMGN).
    • Previously: Teva to buy Allergan Generics for $40.5B (Jul. 27 2015)
    | Jul. 28, 2015, 2:38 AM | 11 Comments
  • Jan. 11, 2015, 10:14 PM
    • In the context of accelerating the growth of its pain portfolio, Biogen (NASDAQ:BIIB) acquires Cambridge-based Convergence Pharmaceuticals, a clinical-stage biotech whose technology platform is based on ion channel electrophysiology and ion channel medicinal chemistry. Biogen is particularly interested in CNV1014802, a small molecule state-dependent sodium channel blocker, currently being developed for the treatment of neuropathies like lumbosacral radiculopathy (sciatica) and trigeminal neuralgia.
    • Under the terms of the acquisition agreement, Biogen will pay Convergence shareholders an upfront payment of $200M and up to $475M in milestones. The transaction is expected to close this quarter.
    | Jan. 11, 2015, 10:14 PM
  • Apr. 12, 2013, 10:59 AM

    Elan's (ELN -1.3%) shareholders have overwhelmingly approved a plan to buy back $1B in stock following the sale of Tsabri to Biogen Idec (BIIB +2.4%), as speculation mounts that an earlier takeover indication by Royalty Pharma might be sweetened. Royalty approached ELN in February with an $11 per share potential offer, valuing the company at $6.55B, which was rejected by ELN. Last week, Ireland's Takeover Panel told the pharmaceutical investor to either step up and announce an official takeover offer for the company by May 10, or walk away.

    | Apr. 12, 2013, 10:59 AM
  • Apr. 2, 2013, 6:08 PM

    Biogen Idec (BIIB) completes its purchase of Elan's (ELN) interest in Tysabri, gaining full strategic, commercial and decision-making rights to the relapsing MS drug treatment. [BIIB plans to give further details and updated financial guidance during it's upcoming Q1 earnings announcement. Shares +0.3% AH.

    | Apr. 2, 2013, 6:08 PM
  • Feb. 6, 2013, 4:08 PM

    Deutsche Bank cuts Elan (ELN -9.9%) to Hold on the back of its sale of Tysabri to Biogen (BIIB +2.1%). Deutsche says the decision looks attractive because ELN "swapped hope for certainty." However, uncertainty over the use of the proceeds forces it to move to the sidelines.

    | Feb. 6, 2013, 4:08 PM
  • Feb. 6, 2013, 3:16 AM

    Biogen Idec (BIIB) has agreed to acquire full ownership of multiple-sclerosis drug Tysabri from Elan (ELN) for $3.25B plus future royalty payments. Biogen has co-marketed the injectable treatment, which generated revenue of $1.6B last year, with Elan for twelve years, with both firms splitting the profit until now. The deal comes as Biogen awaits approval for its BG-12 pill to treat MS. (PR)

    | Feb. 6, 2013, 3:16 AM | 1 Comment
  • Feb. 14, 2012, 9:08 AM

    Biogen (BIIB) agrees to acquire Stromedix, a privately-held developer of treatments for fibrosis and organ failure, for $75M in cash and potential additional payments of up to $487.5M. Stromedix's most advanced candidate, STX-100, is a monoclonal antibody that has shown promise in early stage trials to treat fibrosis. BIIB -0.5% premarket.

    | Feb. 14, 2012, 9:08 AM
  • Oct. 17, 2011, 6:13 PM

    GlaxoSmithKline (GSK) may bid $25/share for Human Genome Sciences (HGSI), the Daily Mail speculates, citing their partnership in developing the FDA-approved lupus drug Benlysta. With Merck (MRK) and Biogen (BIIB) also sniffing around the company, GSK "could decide now would be an opportune time to make a move on HGS." HGSI +4.9% AH.

    | Oct. 17, 2011, 6:13 PM | 2 Comments