The Swiss group has likely been paying attention to industry developments as BCMA and CD40 go out, while Covid-19 and Tim-3 move up.
The practicalities of actually selling the controversial new Alzheimer’s drug are proving increasingly difficult for Biogen.
Big risers include Eli Lilly, Biogen, Moderna and Biontech.
In an unprecedented situation Biogen sought to restrict the use of Aduhelm weeks after the drug’s approval. And the FDA said yes.
And Lilly was well ahead of the pack, fuelled by Alzheimer’s hopes.
If the first quarter was quiet for takeovers the second saw M&A grind to a halt. What can the matter be?