Biogen’s ‘pick and choose’ strategy in immunology leads to $1B HI-Bio takeout

Biogen’s acquisition of HI-Bio, its second 10-figure M&A deal since the arrival of Christopher Viehbacher as CEO in 2022, will further diversify the company’s pipeline in immunology and rare diseases as part of a continuing push to reshape the organization.

Biogen Inc. (NASDAQ:BIIB) is paying $1.15 billion up front to purchase the South San Francisco company formally known as Human Immunology Biosciences Inc., a privately held start-up that in 2022 acquired rights to programs spun out from MorphoSys AG (Xetra:MOR; NASDAQ:MOR), which Novartis AG (SIX:NOVN; NYSE:NVS) is acquiring for €2.7 billion ($2.9 billion)...