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Biogen to Acquire Apellis, Enhancing the Company’s Growth Portfolio in Immunology and Rare Disease, Bolstering Growth Outlook and Accelerating Expansion into Nephrology
Acquisition will bring two differentiated commercialized immunology medicines to Biogen with EMPAVELI® FDA-approved in three indications, including two rare
About this update from Apellis Pharmaceuticals, Inc.
[{"type":"text","content":"Acquisition will bring two differentiated commercialized immunology medicines to Biogen with EMPAVELI® FDA-approved in three indications, including two rare kidney diseases, and SYFOVRE® FDA-approved in geographic atrophy, an immune-mediated retinal diseaseBringing together Biogen and Apellis’ commercialization capabilities will maximize the potential of both EMPAVELI® and SYFOVRE®, while Apellis’ talent and expertise will accelerate Biogen’s entry into nephrology and augment launch readiness for felzartamab, currently in Phase 3Acquisition is expected to bolster Biogen’s near-and long-term growth prospects, adding immediate revenue from two products with significant growth potential; 2025 net product revenue for EMPAVELI® and SYFOVRE® together was $689 million, expected to grow at a rate in the mid-to-high teens at least through 2028Biogen to acquire Apellis for a price of $41 per share in cash representing an upfront equity consideration of approximately $5.6 billion and a contingent value right (CVR) per share payable upon achievement of certain thresholds related to global net sales of SYFOVRE®Financially attractive transaction expected to be increasingly accretive to non-GAAP diluted earnings per share (EPS) starting in 2027 and expected to meaningfully increase Biogen’s non-GAAP EPS compounded annual growth rate (CAGR) through the end of the decadeBiogen to host investor conference call today at 8:30 a.m. ET CAMBRIDGE, Mass. and WALTHAM, Mass., March 31, 2026 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) and Apellis Pharmaceuticals, Inc. (Nasdaq: APLS) today announced the companies have entered into a definitive agreement under which Biogen has agreed to acquire all outstanding shares of Apellis for $41.00 per share in cash at closing, or approximately $5.6 billion. Apellis stockholders will also receive a nontransferable CVR for each Apellis share held, entitling the holder to receive two payments of $2 per share each, contingent on certain annual global net sales thresholds being met for SYFOVRE®. The addition of Apellis, a leader in advancing treatments for serious, complement-driven diseases, is expected to enhance Biogen’s short- and long-term revenue growth profile by adding two commercialized differentiated immunology and rare disease medicines to its growth portfolio. EMPAVELI® and SYFOVRE® add immediate sales rev...