Drugmaker Biogen will buy all outstanding shares of Sage Therapeutics that it does not already own for $7.22 apiece, a filing showed on Friday, sending the latter's stock up 34% in extended trade.
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The Biogen Inc. story of the last 10 years has been one of periods of excitement, followed by significant disappointments. The company is executing a turnaround strategy that includes cost-cutting, pipeline realignment, and M&A. Leqembi's launch is below expectations, but is improving lately, with good sequential growth trends in Q3.
The Centers for Medicare & Medicaid Services has directed private insurers providing Medicare Advantage plans to cover Biogen's amyotrophic lateral sclerosis drug Qalsody after finding instances of coverage denial.
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Though there is uncertainty about Biogen's sales and profits improving significantly, investors can hold the stock given the potential of its new drugs.
Jefferies downgraded Biogen Inc BIIB, citing the company's tough setup.
Biogen Inc. (NASDAQ:BIIB ) 7th Annual Evercore ISI HealthCONx Healthcare Conference Call December 3, 2024 9:10 AM ET Company Participants Alisha Alaimo - President and Head of North America Michael McDonnell - Chief Financial Officer Conference Call Participants Umer Raffat - Evercore ISI Umer Raffat Okay, thank you guys for joining us. Pleasure to have Biogen Management.
Biogen expects growth of its keenly watched Alzheimer's disease drug, Leqembi, to see a "linear trend" in the United States in the near term, a company executive said at a healthcare conference on Tuesday.
On Tuesday, UCB SA UCBJY UCBJF and Biogen Inc. BIIB presented detailed results from the Phase 3 PHOENYCS GO study evaluating dapirolizumab pegol (DZP) for systemic lupus erythematosus.
Needham downgraded Biogen Inc BIIB, citing limited catalysts for the company over the next year.
The CHMP renders a positive opinion recommending approval for BIIB and Eisai's Leqembi for treating early Alzheimer's disease.