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BIIB - Biogen - Pipeline Setback Looks To Create An Opportunity
Biogen Inc.
Just two weeks ago I looked at Biogen (BIIB) as it was "adding to the pipeline" with the acquisition of Nightstar Therapeutics (NITE) in an $800 million deal. That news was just noise in the devastating news which Biogen has seen in its pipeline, warranting an update on the investment case.
The investments being made in Nightstar were "neutralised" a few days later as the company sold its biologics manufacturing facility in Denmark in a deal which brings in $890 million in cash. The issue, however, is the blow to the