Biogen Inc. - BIIB STOCK NEWS

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.

Biogen has announced a private Exchange Offer to swap $1.75 billion of its 5.200% Senior Notes due 2045 for new notes and cash. This offer is available only to "Eligible Holders" who meet specific qualifications. The Exchange Offer will expire on February 10, 2021, and cash payments will be included in the Total Exchange Consideration. Concurrently, Biogen is offering a cash tender to Ineligible Holders. Conditions apply, including a minimum issue amount of $300 million for New Notes. The complete terms are outlined in the Offering Memorandum.

Biogen has received FDA approval for the intramuscular (IM) administration of PLEGRIDY (peginterferon beta-1a) to treat relapsing multiple sclerosis (MS), which is expected to reduce injection site reactions significantly. This follows European Commission authorization in December 2020. PLEGRIDY is already known for its efficacy in reducing relapses and delaying disability progression. The approval was based on studies showing that IM administration resulted in fewer injection site reactions compared to the subcutaneous method (14.4% vs. 32.1%). This adds to Biogen's extensive MS treatment options in over 60 countries.

The FDA has extended the review period for Biogen's aducanumab, a treatment for Alzheimer's, by three months, setting the new PDUFA action date to June 7, 2021. This extension follows Biogen's submission of additional clinical data considered a Major Amendment. Aducanumab, developed in collaboration with Eisai, aims to alter disease progression and improve daily living activities for Alzheimer’s patients. The drug, licensed from Neurimmune, could become the first effective treatment for Alzheimer’s if approved.

Biogen announces a multi-year virtual research study in collaboration with Apple to explore digital biomarkers for monitoring cognitive performance and detecting mild cognitive impairment (MCI). Set to launch in 2021, the study will enroll diverse participants to enhance understanding of cognitive health through Apple technology. MCI affects approximately 15-20% of adults over 65, but diagnosis often faces delays. The initiative aims to empower patients and healthcare providers by accelerating diagnoses and improving health outcomes while ensuring participant data privacy and security.

Biogen (Nasdaq: BIIB) has launched the Phase 4 RESPOND study to assess the efficacy and safety of SPINRAZA in children with spinal muscular atrophy (SMA) who have had suboptimal responses to Zolgensma. The study will include around 60 patients across 20 sites globally. It aims to explore if SPINRAZA can provide additional benefits by increasing survival motor neuron (SMN) protein production in previously treated patients. The two-year study will focus on various clinical endpoints, including motor function and safety.

Biogen has received European Commission approval for PLEGRIDY® (peginterferon beta-1a) for intramuscular (IM) injection, increasing treatment options for patients with relapsing multiple sclerosis (MS). This new route offers a reliable treatment option with a well-characterized safety profile and fewer injection site reactions compared to subcutaneous (SC) administration (14.4% vs. 32.1%). PLEGRIDY is already available in over 60 countries, and Biogen is pursuing similar regulatory approval in the U.S. This enhances Biogen's comprehensive MS portfolio aimed at meeting diverse patient needs.