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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.

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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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