Saturday, February 10, 2018 4:38:00 PM
""Biogen most definitely needs to do another deal, optimally a large one" as biotech deals heat up, Geoffrey Porges, a senior biotech analyst at Leerink Partners, told CNBC.
Recent acquisitions by Celgene and Sanofi have prompted some hopes there could be a pickup in mergers and acquisitions activity in the biotech sector, analysts say.
Porges sees potential acquisition candidates for something in the range of $3 billion to $ 15 billion.
"They could lever up significantly and already have substantial cash reserves," he said.
Under the deal announced Thursday, Karyopharm Therapeutics, which makes the early stage drug to treat neurological and inflammatory conditions, will receive a one-time upfront payment of $10 million from Biogen, and up to an additional $207 million in milestones, plus tiered royalty payments on potential sales of the drug."
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