Signage outside the Biogen Inc. office in the Kendall Square neighborhood of Cambridge, Massachusetts, US, on Tuesday, Sept. 6, 2022.
Adam Glanzman | Bloomberg | Getty Images
Biogen has agreed to acquire Apellis Pharmaceuticals for about $5.6 billion in cash, expanding its portfolio of rare-disease medicines, the companies said on Tuesday.
Under the terms of the deal, Apellis shareholders will receive $41 per share in cash, representing a premium of about 140% to the stock’s last close.
They are also eligible to receive two payments of $2 per share each, contingent on certain global sales milestones for Apellis’ eye disorder drug Syfovre, the companies said.
Shares of Apellis rose more than twofold in premarket trading.
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