Beleaguered Biogen faces the music as a rising chorus of critics push for a transformative approach to M&A
Credit Suisse has decided to start offering Biogen crisis analysis, and it’s adding an influential voice backing some major changes at the bellwether biotech.
“Nothing will come of nothing,” its analysts headlined in their first review of the company, pointing straight at the disastrous Phase III failure of aducanumab that has severely damaged Biogen’s market valuation.
This latest assessment of Biogen’s situation — coming out with an underperform rating and a prediction of a further fall in its stock price — is bleak. The review also underscores the rising chorus of criticism that has been shoving Biogen CEO Michel Vounatsos to the bargaining table — particularly after the top exec received a drubbing in the reviews for his recent Q1 update.
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