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Thursday, 02 April 2026
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Another $20B spent on acquisitions

Posted 1 April 2026 PM

Biogen and Eli Lilly have closed the quarter with a bang, dropping over $20 billion to expand their portfolios into new areas, eclipsing recent competitor spending.

Biogen has entered into a definitive agreement to buy Apellis Pharmaceuticals for approximately $8.1 billion (US$5.6 billion) up front. The price represents an 86 per cent premium to the 90-day volume-weighted average stock price, and more than double the US$17.09 stock price just before the announcement.

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