Biogen Inc Stock Price, News & Analysis

Abarca, a pharmacy benefit manager, announced a value-based agreement with Biogen (NASDAQ: BIIB) for drugs Avonex® and Tecfidera®, aimed at improving outcomes for Medicaid patients in Puerto Rico. This collaboration, initiated in 2017, represents the first publicly disclosed value-based agreement for Medicaid populations. Abarca's president emphasized that such contracts are vital for future pharmacy benefits, and Biogen's president expressed commitment to connecting real-world outcomes with therapy costs.

Samsung Bioepis and Biogen announced that the European Medicines Agency (EMA) has accepted their Marketing Authorisation Application for SB11, a proposed biosimilar of Lucentis (ranibizumab), targeting retinal vascular disorders. This application acceptance highlights their collaboration toward providing affordable treatment options. If approved, SB11 will enhance Biogen's biosimilar portfolio, supporting financial sustainability in healthcare. The collaboration aims to address pressing health needs and ensure patient access to essential therapies.

Biogen (Nasdaq: BIIB) has announced the launch of the Healthy Climate, Healthy Lives™ initiative, a $250 million, 20-year plan to eliminate fossil fuels from its operations by 2040. This initiative includes collaborations with leading institutions like MIT and Harvard to mitigate the health impacts of fossil fuels. Biogen aims to power operations with renewable energy, transition its fleet to electric vehicles, and support suppliers in reducing fossil fuel usage. This commitment positions Biogen as the first Fortune 500 company to strive for complete fossil fuel independence.

Biogen (NASDAQ: BIIB) announced new data highlighting the effectiveness and safety of its multiple sclerosis (MS) therapies at the MSVirtual2020 conference. Key findings from the Phase 3 study of VUMERITY® (diroximel fumarate) show improved gastrointestinal tolerability compared to TECFIDERA®. In two years, 90% of VUMERITY patients remained free from confirmed disability progression. Real-world studies indicate TYSABRI® (natalizumab) improved quality of life over Ocrevus®. Additionally, PLEGRIDY® and AVONEX® showed benefits in older patients with relapsing MS. Biogen is also advancing BIIB091, a BTK inhibitor for MS treatment.

Biogen (Nasdaq: BIIB) released findings from two real-world studies on health disparities in multiple sclerosis (MS) during MSVirtual2020. The research, from MS PATHS and NARCRMS, reveals significant socio-demographic disparities affecting Black and Hispanic individuals with MS, including higher unemployment and income differences compared to white counterparts. The studies also predict employment status based on disability assessments. Biogen's ongoing development of digital tools aims to enhance treatment decisions and improve patient outcomes.

Biogen Inc. (Nasdaq: BIIB) announced a $10 million investment in OneUnited Bank, the largest Black-owned bank in the U.S., aimed at supporting Black economic empowerment. This deposit represents a growing corporate focus on Black businesses and lenders. OneUnited Bank reports a 100% increase in interest since May 2020, attracting over 50,000 new customers and $50 million in deposits. Biogen's investment aligns with its Diversity, Equity, and Inclusion strategy and may help strengthen underrepresented minority businesses.

Biogen and Eisai announced that the FDA accepted the Biologics License Application (BLA) for aducanumab, an investigational Alzheimer’s treatment, granting it Priority Review. The PDUFA target action date is set for March 7, 2021. If approved, aducanumab would be the first therapy to significantly alter Alzheimer’s disease progression and demonstrate better outcomes through amyloid beta removal. This milestone is seen as a potential paradigm shift in treating dementia, addressing a critical public health issue.

Biogen (Nasdaq: BIIB) has entered a collaboration with Denali Therapeutics to co-develop and co-commercialize Denali's LRRK2 inhibitors for Parkinson's disease. The agreement includes a $560 million upfront payment and a $465 million equity investment from Biogen, along with potential milestone payments exceeding $1 billion. Biogen will share development costs (60% Biogen, 40% Denali) and split profits in the U.S. and China (50/50). Biogen also gains rights to two additional programs using Denali's Transport Vehicle technology for neurodegenerative diseases.

Biogen (Nasdaq: BIIB) will present multiple data from its Alzheimer’s disease (AD) clinical development portfolio at the Alzheimer’s Association International Conference (AAIC) online from July 27-31. Highlights include an encore platform presentation of aducanumab's Phase 3 EMERGE and ENGAGE study results on July 29. Additional presentations will cover gosuranemab (BIIB092) and other investigational therapies aimed at improving AD diagnosis and treatment. The event will enhance understanding of patient needs and healthcare capabilities for AD management.