Biogen to spin off its haemophilia business
Biogen (NASDAQ: BIIB) has announced plans to spin off its haemophilia business as an independent, publicly traded company.
To be named at a later date, the new business will rely on existing marketed products, Eloctate and Alprolix, which are indicated for the treatment of haemophilia A and B, respectively. The pair generated combined revenues of $640 million for the 12 months to March 31 2016.
The new company will also focus and pursue drug development along the current pipeline, including bringing longer acting therapies utilising the XTEN technology into clinical development in the first half of 2017. It also plans to accelerate the development of bispecific antibodies and haemophilia-related gene therapy programs.
Biogen’s current executive VP, pharmaceutical operations and technology, John G. Cox, will serve as chief executive officer of the newly formed entity. Cox comments: “When Biogen brought Eloctate and Alprolix to market in 2014, they represented the first major treatment advances in nearly two decades for people living with haemophilia… With a team that is solely dedicated to haemophilia, we will have the potential to transform the way haemophilia patients are treated.”
The new company is expected to be headquartered in Boston, and will retain commercial rights to the two key drugs in North America.
George Scangos, Biogen CEO, says: “We believe that the best way to realise the full potential of this growing and vital business is to enable it to operate independently with a management team dedicated to providing therapies to people living with haemophilia.”
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