Reports in the US suggest takeover interest in Biogen, including from Allergan and MSD.
According to the Wall Street Journal, both Allergan and MSD have informally sounded out Biogen over a potential takeover. None of the companies commented and the report said a deal may not eventuate because of a lack of interest from Biogen.
Shares in Biogen, the makers of PBS-listed multiple sclerosis therapy TECFIDERA, jumped around 10 per cent in response to the reports. The company has a promising pipeline, including an investigational therapy for Alzheimer's disease in late stage development, and a current market capitalisation of around US$75 billion.
Earlier this week, Allergan completed the US$40.5 billion cash-and-stock deal to sell its generic drugs business to Teva (not including Australia). It recently scrapped a proposed US$160 billion merger with Pfizer following changes in US tax law that largely eliminated a key rationale for the deal.
MSD's chairman and CEO, Ken Frazier, recently said the company was interested in collaborations and acquisitions that complemented its existing pipeline.
