A Deal For Biogen, But Not The One Investors Are Waiting For
The firm announced a small deal with Karyopharm for a preclinical asset with potential in ALS, but large deals are also being considered, management told the fourth quarter earnings call.
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The investment community has been willing Biogen to make a big deal for some time now but a modest pact inked with Japan's TMS for its Phase II acute ischemic stroke drug suggests that management will continue to favor picking up promising compounds rather than diving into major M&A.
Sales of Biogen's blockbuster rare disease drug moderated in the first quarter as the company worked through the bolus of urgent infant and pediatric patients awaiting treatment in the US.
New 10-year collaboration, the sixth between the two firms, will attempt to bring seven antisense candidates for neurological indications to the clinic in the next two years. Biogen pays $1bn up front, split between cash and Ionis equity.