Bio­gen is hus­tling a schiz­o­phre­nia drug in­to PhI­Ib af­ter Pfiz­er lets it go in $590M CNS fire sale

Pfiz­er’s $PFE de­ci­sion to beat a re­treat from its pipeline of neu­ro­sciences drugs has trig­gered its first as­set sale.

Bio­gen $BI­IB is step­ping up with $75 mil­lion in cash and com­mit­ting up to $515 mil­lion in mile­stones to seal the deal on Pfiz­er’s schiz­o­phre­nia drug PF-04958242. The drug has been through an ear­ly-stage study, and now Bio­gen will add it to a lean pipeline of CNS ther­a­pies.

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