Bio­gen CEO in search for 'ex­ter­nal growth' to boost pipeline as rev­enue falls

Bio­gen CEO Chris Viehbach­er re­it­er­at­ed his plans to con­sid­er M&A on Tues­day, say­ing the biotech is hunt­ing for “some­thing that is rev­enue-gen­er­at­ing in the near term.”

The com­pa­ny is look­ing to di­ver­si­fy away from de­vel­op­ing high-risk neu­ro­log­i­cal drugs, and it is over­haul­ing its R&D op­er­a­tions as it deals with dwin­dling rev­enue from its mul­ti­ple scle­ro­sis fran­chise and the fall­out from the roll­out of its con­tro­ver­sial Alzheimer’s drug Aduhelm, which gained FDA ap­proval on mixed clin­i­cal ev­i­dence but failed to gar­ner wide­spread in­sur­ance cov­er­age.

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