News Breaks |
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| February 6, 2013 |
| 06:40 EDT |  | BIIB | Biogen to acquire full rights and control of Tysabri from Elan
Biogen announced the company has agreed to purchase Elan's interest in Tysabri and upon closing will gain full strategic, commercial and decision-making rights to Tysabri. Upon the closing of the transaction, the previous collaboration agreement between the companies, whereby worldwide Tysabri profits were split 50/50, will be terminated along with the agreement's change of control provisions. Under the terms of the agreement, Biogen Idec will use its existing cash reserves to make a payment of $3.25B to Elan upon the closing of the transaction and make future contingent payments to Elan in an amount equal to 12% of global net sales of Tysabri for the first twelve months, and thereafter, Biogen Idec will continue to make contingent payments of 18% on annual global net sales of TYSABRI up to $2B and 25% on annual global net sales that exceed $2B. In 2014 only, the $2B threshold will be pro-rated for the portion of 2014 remaining after the first 12 months expires. Biogen Idec anticipates the transaction will be approximately 20c-30c accretive to 2013 GAAP earnings per share and 50c-60c accretive to non-GAAP earnings per share, and will continue to be accretive thereafter, depending on the sales trajectory of Tysabri. |
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News For BIIB From The Last 14 Days Check below for free stories on BIIB the last two weeks. |
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| May 23, 2013 |
| 08:04 EDT | | BIIB | Biogen appoints Spyros Artavanis-Tsakonas as Chief Scientific Officer
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| May 21, 2013 |
| 07:24 EDT |  | BIIB | Global Health Care to host a conference
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| 05:44 EDT | | BIIB | Biogen submits application to FDA for approval of Plegridy in RMS
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| May 20, 2013 |
| 15:57 EDT |  | BIIB | Biogen IMS numbers should not be adjusted down at ISI Group
ISI Group confirmed with Biogen that Tecfidera is not captured by IMS and numbers should not be adjusted downward to reflect free drugs dispensed. |
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| 07:39 EDT | | BIIB | Biogen weekly MS drug scripts up 26.5%, says Citigroup
Citigroup says weekly scripts for Biogen's multiple sclerosis drug Tecfidera were up 26.5% to 1,621. Citi says the launch of Tecfidera is on track to beat Q2 estimates by a wide margin and it keeps a Buy rating on shares of Biogen. |
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| May 16, 2013 |
| 07:29 EDT | | BIIB | Leerink to host a bus tour
Boston Biopharma Bus Tour travels throughout Boston on May 16-17. |
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| May 14, 2013 |
| 15:09 EDT | | BIIB | Biogen has a conference call hosted by JPMorgan
JPMorgan Analysts Meacham and Kasimov host a conference call with CEO George Scangos and CFO Paul Clancy on May 17 at 10 am. |
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| May 13, 2013 |
| 11:12 EDT | | BIIB | Biogen MS drug scripts grew 38% week-over-week, says Leerink
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| 07:34 EDT | | BIIB | Biogen says FDA accepts BLA for Eloctate
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| May 10, 2013 |
| 08:00 EDT | | BIIB | Biogen should be bought on weakness before Q2 Tecfidera data, says Stifel
Stifel recommends buying Biogen on any weakness before the company reports Q2 Tecfidera sales data. The firm thinks that any continued strength in Tecfidera prescription data will cause analysts to revise their estimates higher, and it keeps a Buy rating on the shares. |
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