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published in Blogs
Jan 02, 2022
Biogen (BIIB, $239.92) shares fall, after Samsung BioLogics denies takeover report

Biogen (BIIB, $239.92) shares fall, after Samsung BioLogics denies takeover report

Biogen shares took a hit, after Samsung BioLogics denied a report that claimed that it's discussing takeover plans that at a value of around $42 billon.

Korea Economic Daily report mentioned ties between the two groups including FDA approval of key treatments, as well as Biogen's 50% stake  minus one share in biosimilars unit Samsung Bioepis Co. The report also stated plans from the Samsung Group to invest more than $200 billion over the next three years in order to expand its semiconductor, display and biopharmaceuticals business.

But Samsung BioLogics called the report "untrue".

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