AcquisitionsJul 29, 2026, 06:41 AM
Biogen Acquires Apellis for $5.3B; Q2 Net Income $97.5M
AI Summary
Biogen completed the acquisition of Apellis Pharmaceuticals, Inc. on May 14, 2026, for approximately $5.3 billion in cash, plus contingent value rights. This strategic move adds FDA-approved products SYFOVRE and EMPAVELI to Biogen's immunology portfolio. For the second quarter of 2026, Biogen reported a significant decrease in net income to $97.5 million, down from $634.8 million in the prior year, largely impacted by increased research and development expenses and $165.4 million in restructuring charges. Despite this, total revenue for the quarter saw a modest increase to $2,736.0 million.
Key Highlights
- Biogen acquired Apellis Pharmaceuticals for approximately $5.3 billion cash on May 14, 2026.
- Total consideration for the Apellis acquisition was $5,410.1 million, including contingent consideration.
- Q2 2026 Net Income attributable to Biogen Inc. was $97.5 million, down 84.6% from $634.8 million YoY.
- Q2 2026 Diluted EPS was $0.66, a decrease from $4.33 in Q2 2025.
- Q2 2026 Total Revenue increased 3.4% YoY to $2,736.0 million.
- Product revenue, net, for Q2 2026 rose to $1,916.4 million from $1,878.7 million.
- Research and development expenses increased to $529.6 million from $399.0 million YoY.
- Restructuring charges were $165.4 million in Q2 2026, compared to a gain of $0.7 million in Q2 2025.
Price Impact
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