Biogen Snaps Up Apellis Pharma For $5.6 Billion, But Biogen Dives As Apellis Soars

Core Insights - Biogen has acquired Apellis Pharmaceuticals for $5.6 billion, enhancing its drug portfolio with two approved medications [1] - The acquisition has significantly boosted Apellis' stock, which saw a triple-digit increase following the announcement [1] Company Overview - Biogen's acquisition of Apellis adds Empaveli and Syfovre to its pipeline, with Empaveli approved for treating three conditions, including two rare kidney diseases, and Syfovre targeting an eye disease [1] - Last year, the combined sales of Empaveli and Syfovre contributed to Apellis' revenue growth, indicating strong market potential for these drugs [1]