Welcome to our dedicated page for Biogen news (Ticker: BIIB), a resource for investors and traders seeking the latest updates and insights on Biogen stock.
Biogen Inc. (Nasdaq: BIIB) is a pioneering biotechnology company founded in 1978, dedicated to discovering, developing, and delivering innovative therapies for people living with serious neurological and neurodegenerative diseases. With a robust portfolio of medicines, Biogen is a global leader in the treatment of multiple sclerosis (MS) and has introduced the first and only approved treatment for spinal muscular atrophy (SMA). The company is also at the forefront of research for Alzheimer’s disease, Parkinson’s disease, and amyotrophic lateral sclerosis (ALS).
Headquartered in Cambridge, Massachusetts, Biogen operates worldwide with research facilities in Zug, Switzerland, and state-of-the-art manufacturing plants in North Carolina and Denmark. The company employs approximately 7,000 people globally, emphasizing a collaborative and inclusive work environment.
Biogen's significant achievements include the development of revolutionary MS treatments such as Avonex, Plegridy, Tysabri, Tecfidera, and Vumerity. The company also markets Spinraza for SMA and Leqembi for Alzheimer’s disease, in collaboration with partners like Ionis and Eisai respectively. Biogen continues to expand its pipeline with promising candidates currently in various stages of clinical trials.
Recent developments have seen Biogen and Eisai submit a Supplemental Biologics License Application (sBLA) to the U.S. Food and Drug Administration (FDA) for monthly maintenance dosing of Leqembi, aimed at treating Alzheimer's disease in its early stages. Furthermore, Biogen published its 2023 Corporate Responsibility Report, highlighting its commitment to sustainable practices and social responsibility across four key pillars.
In addition to its core operations, Biogen collaborates with companies like Delta Flight Products to improve travel experiences for passengers with reduced mobility. This initiative reflects Biogen’s broader mission to enhance the quality of life for individuals facing debilitating conditions.
Biogen's financial health is robust, with strategic mergers and acquisitions like the recent purchase of Human Immunology Biosciences for $1.15 billion, aiming to bolster its immunology pipeline. The company’s comprehensive approach to business involves balancing bold scientific endeavors with prudent financial management to ensure long-term growth and shareholder value.
For more information about Biogen's latest news and updates, visit www.biogen.com.
Biogen has entered into a commercialization and license agreement with Bio-Thera Solutions to develop and market BAT1806, a proposed biosimilar referencing ACTEMRA® (tocilizumab). The drug is currently in Phase 3 clinical trials, with ACTEMRA® generating 2.8 billion CHF in sales in 2020. Biogen is set to receive exclusive rights to BAT1806 outside of China, making a $30 million upfront payment subject to trial results. This agreement aims to enhance access to biologic therapies and foster cost savings in healthcare.
Biogen has received marketing authorization from the European Commission for a subcutaneous (SC) injection of TYSABRI® (natalizumab) to treat relapsing-remitting multiple sclerosis (MS). This new route provides comparable efficacy and safety to the intravenous (IV) formulation while allowing for shorter administration times. The SC option expands treatment access for patients and healthcare providers, particularly during concerns around COVID-19 vaccination. TYSABRI has proven itself over nearly 15 years, with over 213,000 patients treated globally.
Biogen (Nasdaq: BIIB) plans to build a new gene therapy manufacturing facility in Research Triangle Park, North Carolina, with operations expected to commence in 2023. This facility, covering 175,000 square feet, aims to enhance Biogen's gene therapy pipeline across various therapeutic areas and create approximately 90 jobs. The total investment in this facility is projected at $200 million. This investment emphasizes Biogen’s commitment to providing high-quality medicines to patients and fostering a diverse workforce.
Biogen Foundation, along with Life Science Cares, has sponsored a $170,000 initiative to support Food For Free's Just Eats Grocery Box program in Greater Boston. This program aims to alleviate food insecurity for 3,000 families, distributing 3,000 grocery boxes weekly. Biogen contributed $100,000, while Life Science Cares provided $50,000. The initiative responds to the growing hunger crisis exacerbated by COVID-19, where one in five children in Eastern Massachusetts now faces food insecurity. The program will utilize local resources to deliver nutritious food to underserved communities.
Biogen (NASDAQ: BIIB) has announced the expiration results of its cash offer to purchase outstanding 5.200% Senior Notes due 2045, totaling $1.75 billion. The Cash Offer expired on February 10, 2021, while the Settlement Date is expected on February 16, 2021. As of the expiration, $8.907 million in Notes were tendered, with an additional $2.864 million expected through guaranteed delivery procedures. The total cash payment for accepted Notes is anticipated at approximately $16 million. The Cash Offer was made solely to Eligible Holders, as defined in the Offer to Purchase.
On February 11, 2021, Biogen announced the results of its private offer to exchange outstanding 5.200% Senior Notes due 2045 for new 3.250% Senior Notes due 2051 and cash. The exchange offer expired on February 10, 2021, with approximately $621 million of the old notes tendered. Biogen expects to issue roughly $721 million in new notes and pay around $156 million in cash at the settlement date, anticipated on February 16, 2021. The exchange will not provide cash proceeds to Biogen, and holders of the old notes will cease to earn interest post-settlement.
Biogen has awarded Golden Tickets to Bolden Therapeutics and Seranova Bio, granting them access to state-of-the-art lab facilities at LabCentral for one year. This initiative highlights Biogen's commitment to innovation in the biotech sector, offering mentorship and shared infrastructure to support promising startups. Bolden Therapeutics aims to develop therapies targeting a novel signaling pathway for CNS diseases, while Seranova Bio focuses on a rapid profiling platform for identifying therapeutic targets. The initiative enhances Biogen's engagement with the local scientific community.
Biogen announced its Cash Offer for $1.75 billion in 5.200% Senior Notes due 2045, set to expire at 5:00 p.m. New York City time today. The Tender Consideration for each $1,000 in principal of Notes is $1,357.12, based on a reference yield of 1.937% and a fixed spread of 115 basis points. The Cash Offer condition includes an Aggregate Maximum Cash Offer Condition of $50 million. Biogen is also offering an Exchange Offer for Ineligible Holders to swap Notes for new senior notes. Settlement for the Cash Offer is expected on February 16, 2021.
Biogen has announced the pricing terms for its private offer to exchange $1.75 billion of its 5.200% Senior Notes due 2045 for new 3.250% Senior Notes due 2051. The Total Exchange Consideration is set at $1,357.12 for each $1,000 of Old Notes. The Exchange Offer will expire today at 5:00 p.m. ET, with the Settlement Date expected by February 16, 2021. Additionally, a cash tender offer for the Old Notes is being made to Ineligible Holders. The offering is set to meet various conditions outlined in the Offering Memorandum.
Biogen (Nasdaq: BIIB) has initiated a cash offer to purchase its outstanding 5.200% Senior Notes due 2045, totaling $1.75 billion. The Cash Offer is subject to a maximum tender consideration of $50 million and will expire on February 10, 2021. Eligible Holders can also participate in a separate exchange offer. The Tender Consideration will be determined based on prevailing market conditions at the time of pricing. This action reflects Biogen's strategy to manage its debt portfolio effectively.
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