Bulletin
Investor Alert

New York Markets Open in:

Market Pulse Archives

Nov. 6, 2019, 8:21 a.m. EST

Biogen ups investment in biosimilars

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Biogen Inc. (BIIB)
  • X
    Samsung Electronics Co. Ltd. (005930)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Jaimy Lee

Biogen Inc. /zigman2/quotes/201531540/composite BIIB -1.67% said it plans to make a $100 million upfront payment to Samsung Bioepis to acquire the rights to commercialize biosimilar versions of Lucentis and Eylea, two blockbuster eye drugs. Samsung Bioepis is a joint venture founded in 2012 between the Cambridge, Mass.-based biotech and Samsung /zigman2/quotes/209800866/delayed KR:005930 +2.70% , the Korean conglomerate. Biogen said it will record a $65 million charge to its research and development expenses as a result of the transaction, which also includes potential additional milestone payments of up to $210 million. Biogen's stock is down 2.9% for the year, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.29% is up 23%.

/zigman2/quotes/201531540/composite
US : U.S.: Nasdaq
$ 292.23
-4.97 -1.67%
Volume: 1.31M
Dec. 11, 2019 4:15p
P/E Ratio
10.39
Dividend Yield
N/A
Market Cap
$52.73 billion
Rev. per Employee
$1.55M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
53,300.00
+1,400 +2.70%
Volume: 29.18M
Dec. 12, 2019 3:30p
P/E Ratio
14.71
Dividend Yield
2.66%
Market Cap
₩352539.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,141.63
+9.11 +0.29%
Volume: 1.71B
Dec. 11, 2019 5:01p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.