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Takeover rumours send Biogen’s stock soaring

pharmafile | August 3, 2016 | News story | Manufacturing and Production, Research and Development, Sales and Marketing Allergan, Biogen, MSD, rumours, takeover 

Rumours have begun to circulate that companies including MSD and Allergan are plotting a takeover bid for Biogen, after a Wall Street Journal cited people familiar with the matter.

Any deal for Biogen would easily be one of the largest in the industry’s history. After the initial talk emerged over a potential takeover bid, Biogen stock rose almost 10% to $330 per share, with a market cap of $75.3 billion.

The company is well established in the multiple sclerosis and haemophilia fields, while have also recently moved into biosimilar development. Neither MSD nor Allergan currently have a significant stake in these areas. Furthermore, Biogen is investing heavily in Alzheimer’s disease treatments, targeting the amyloid plaque protein in an attempt to fight the disease.

The next few months are set to be a time of upheaval at Biogen, as long-serving CEO George Scangos steps down with his successor yet to be announced.

With no one from the respective companies providing a comment, this will remain in the realm of speculation until a more concrete indication is provided.

Sean Murray

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