Bio­gen CEO says com­pa­ny 'lost its way,' cuts $125M MS part­ner­ship amid de­clin­ing rev­enue

Bio­gen has giv­en up on ore­labru­ti­nib, an BTK in­hibitor for the po­ten­tial treat­ment of mul­ti­ple scle­ro­sis, af­ter pay­ing $125 mil­lion for it in 2021.

“In Feb­ru­ary 2023 Bio­gen no­ti­fied In­no­Care Phar­ma Lim­it­ed of its de­ci­sion to ter­mi­nate its li­cense and col­lab­o­ra­tion agree­ment with In­no­Care for ore­labru­ti­nib,” the com­pa­ny an­nounced in its Q4 and 2022 fi­nan­cial up­date to­day.

Bio­gen paid big for the world­wide rights to de­vel­op and com­mer­cial­ize the drug as well as rights to in­di­ca­tions in cer­tain un­named au­toim­mune dis­eases out­side of Chi­na.

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