Biogen Staying "Laser-Focused" On Neuroscience
The company is under pressure from investors to add new pipeline assets, but stronger than expected initial sales of Spinraza helped to assuage near-term growth concerns.
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Biopharma companies raised $13.4 billion in Q2, mostly through IPOs. Thanks to several billion-dollar deals in Q2, 2017 is shaping up to be a year of CRO consolidations. Big pharma continued divesting assets to smaller biopharma companies.
Biogen is laser-focused on leading neuroscience, but management also talked about ways to balance the high-risk nature of competing in the challenging therapeutic area.
Biogen acquired rights to Remedy's Cirara, a Phase III-ready candidate in development for large hemispheric infarction, a severe stroke where brain swelling causes high mortality.