Biogen to Buy Apellis for USD 5.6 Billion in Rare Disease Push

Biogen said it will acquire Apellis Pharmaceuticals for USD 5.6 billion, marking a major step in its rare disease strategy. The Biogen to buy Apellis deal comes as the company looks to reduce reliance on its aging multiple sclerosis portfolio and build new growth drivers.

Under the agreement, Biogen will pay USD 41 per share in cash, along with potential additional payments tied to future sales performance. The Biogen to buy Apellis move gives Biogen immediate access to revenue-generating therapies, including Empaveli and Syfovre.

These drugs target rare kidney, blood, and eye conditions, with Syfovre already gaining attention as a treatment for geographic atrophy, a leading cause of vision loss. Apellis reported strong sales momentum, making it an attractive acquisition target.

Also Read: How Digital Maturity is Powering Pharma's GMP Evolution

Biogen expects the transaction to close in the second quarter of 2026, subject to regulatory approvals. The company is betting that expanding into specialized treatments like nephrology and ophthalmology will strengthen its long-term position in the competitive biotech market.

The deal reflects a broader trend in the pharmaceutical industry, where companies are focusing on mid-sized acquisitions to quickly add high-value therapies. While Apellis shares surged following the announcement, Biogen’s stock dipped, signaling investor concern over the premium paid.

Still, Biogen sees the acquisition as a strategic fit that can accelerate growth and diversify its pipeline. As competition intensifies, the company is making a calculated move to secure its place in the future of rare disease treatment.