Biogen Scales Back Apellis Programs and Cuts Research Roles Following $5.6 Billion Acquisition

Following its $5.6 billion acquisition of Apellis Pharmaceuticals, Biogen is cutting research programs and jobs to integrate the company. Biogen is shifting resources to focus on two approved rare-disease drugs, Empaveli and Syfovre, and has suspended two clinical trials for Empaveli. The move aims to support near-term growth as Biogen's multiple sclerosis and Alzheimer's drugs face challenges.

Apellis acquisition integration

• ▪Biogen acquired Apellis Pharmaceuticals for $5.6 billion in a deal announced in March 2026.
• ▪As part of the integration, Biogen is conducting a comprehensive review of the former Apellis clinical and preclinical portfolio.
• ▪The acquisition of Apellis is Biogen's largest since its 2023 buyout of Reata Pharmaceuticals.

Research program cuts

• ▪Biogen has paused or discontinued funding for most of Apellis Pharmaceuticals' research programs.
• ▪Biogen has cut a small number of roles within its research organization but did not disclose the specific number.

Empaveli revenue growth

• ▪The combined revenue for Empaveli and Syfovre is projected to grow at a mid-to-high-teens rate at least through 2028.
• ▪The two drugs, Empaveli and Syfovre, generated a combined revenue of about $689 million in the previous year.
• ▪Empaveli, a drug acquired from Apellis, is approved to treat two rare kidney diseases and a rare blood disorder.
• ▪Syfovre, a drug from the Apellis acquisition, is authorized to treat geographic atrophy, an advanced eye condition and a leading cause of blindness.

Biogen growth strategy

• ▪Biogen is shifting its resources toward Empaveli and Syfovre, the two approved therapies acquired through the Apellis deal.
• ▪The Apellis acquisition is intended to support Biogen's growth amid declining demand for its multiple sclerosis drugs and lagging sales of its Alzheimer's drug Leqembi.

Clinical trial suspensions

• ▪Biogen has suspended two clinical trials evaluating its drug Empaveli for two separate kidney-related conditions.
• ▪The suspension of the two Empaveli trials was noted in updates posted in June 2026 on the U.S. government's clinical trials database.

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