Biogen, desperate to reverse the turmoil surrounding its controversial Alzheimer’s treatment Aduhelm, has a shopping list of potential acquisitions, STAT has learned. And the company’s risk-averse board, which has repeatedly rejected potential deals, could be increasingly receptive.
The company, whose stock price is down nearly 50% since Aduhelm’s June approval, is working with Goldman Sachs to find potential buyout targets, according to a person familiar with the companies’ relationships who would share internal discussions only on the condition of anonymity.
Goldman provided Biogen with a list of smaller biotech companies that might fit with the company’s focus on neuroscience, the person said. The list includes Biohaven Pharmaceuticals, maker of commercially successful treatments for migraine; Aurinia Pharmaceuticals, which recently won approval for a drug to treat lupus; and Amylyx Pharmaceuticals, a firm seeking approval for an ALS treatment.
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