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Jan. 27, 2022, 7:11 p.m. EST

Biogen stock pops after agreement to sell Samsung part of joint venture

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By Jeremy C. Owens

Biogen Inc. /zigman2/quotes/201531540/composite BIIB +1.57% shares jumped in after-hours trading Thursday following an announcement that it is selling its part of a joint venture to Samsung Electronics Co. Ltd. /zigman2/quotes/209800866/delayed KR:005930 0.00% Biogen has been working with Samsung Bioepis since 2012, according to a news release , and will sell its equity stake in the bio-similars venture to the Samsung parent company for $2.3 billion. Biogen will receive $1 billion at closing with the rest split into two payments due over two years, and will continue with the two companies' exclusive arrangement, which includes commercialization of the current portfolio. Biogen shares jumped as much as 9% in after-hours trading following the announcement, though gains later settled back down to less than 3%.

US : U.S.: Nasdaq
$ 202.54
+3.14 +1.57%
Volume: 914,081
May 24, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$29.20 billion
Rev. per Employee
KR : S. Korea: KRX
0.00 0.00%
Volume: 8.10M
May 25, 2022 11:13a
P/E Ratio
Dividend Yield
Market Cap
₩454803.74 billion
Rev. per Employee

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