Samsung Group in Talks to Buy U.S. Drugmaker Biogen - Korea Economic Daily

Reuters2021-12-30

Dec 29 (Reuters) - South Korea's Samsung Group is in talks to buy U.S. drugmaker Biogen Inc, Korea Economic Daily reported on Wednesday, citing investment banking sources.The report said Biogen ...

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qwertytigger
2021-12-30
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(https://reut.rs/3qrRv32)Samsung Group had said earlier this year it will invest 240 trillion won ($206 billion) in the next three years to expand its footprint in biopharmaceuticals, artificial intelligence, semiconductors and robotics in the post-pandemic era.Biogen said it does not comment on market rumors or speculation, while Samsung did not immediately respond to Reuters request for comment.Shares of Biogen were up 8% in afternoon trading at $255.90.In June, Biogen's controversial Alzheimer's drug won U.S. regulatory approval, becoming the first new treatment for the memory-robbing disease in nearly 20 years, despite an outside advisory panel's view that the company had not proven the treatment's clinical benefits.Biogen has been betting on the drug, Aduhelm, to buffer a hit as its main revenue drivers such as multiple sclerosis treatment Tecfidera and muscle disease treatment Spinraza face rising competition.But U.S. sales from Aduhelm have been slower than expected as hospitals complained that the drug's high cost was not worth its benefits. 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