Biogen's $5.6B Apellis Purchase Boosts Q2 Revenue Above Forecasts
Biogen began reporting revenue from its $5.6 billion acquisition of Apellis in the second quarter, pushing earnings above analysts' consensus estimates.
CEO Chris Viehbacher said the company will move to a less intentional, more opportunistic M&A approach after spending $6.6 billion this year on Apellis and RayThera, targeting assets between development candidate and IND stages.
The acquisition adds two marketed therapies, raising Biogen's portfolio to eight high‑profile medicines and supporting the upcoming launch of a kidney‑disease candidate currently in Phase 3 trials.
With the revenue lift, Biogen expects near‑term growth and plans future deals to fill gaps in its early‑stage pipeline.
This writeup was produced by pharmadog from original reporting by BioSpace.
Original headline: “Biogen shifts M&A strategy as Apellis acquisition pushes revenue above analyst expectations”
read at BioSpace ↗
comments(0)
5-min edit window · permanent after that