BUZZ-Biogen rises; co scales back drug programs acquired through $5.6 bln Apellis deal
Biogen Inc.
Biogen Inc. BIIB | 0.00 |
** Shares of drugmaker Biogen BIIB.O rise 5.8% to $213.75 premarket
** Biogen says it has either paused or discontinued funding for most of the research programs included in its $5.6 billion acquisition of Apellis Pharmaceuticals' assets
** The U.S. drugmaker has also cut a small number of roles within the research organization as it shifts resources toward Empaveli and Syfovre, the approved therapies acquired through the deal
** The company did not offer details on the number of roles or the specific programs impacted by the decision
** Including session's move, BIIB shares up 20% YTD
