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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