Biogen CEO seeks 'awful lot more collaborations' to beef up R&D as it launches postpartum depression, Alzheimer's and ALS drugs
Biogen CEO Chris Viehbacher said the famed Boston biotech is ready to do “an awful lot more collaborations” as it seeks to fill out its early-stage R&D work, but he doesn’t anticipate any more big acquisitions in the near term as it digests the $7.3 billion purchase of rare disease drugmaker Reata Pharmaceuticals, its first M&A foray in four years.
Speaking to reporters Wednesday morning ahead of Biogen’s third-quarter update, Viehbacher said the company was ahead of consensus with three-month revenues of $2.53 billion, but that’s not what investors and analysts are focused on. “The street isn’t really thinking about the results that we’re achieving today,” he said. “They’re really thinking about where’s Biogen going and when does it return to growth.
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