Apellis shares surge as Biogen announces $5.6B acquisition

Biogen has agreed to acquire Apellis Pharmaceuticals for approximately $5.6 billion in cash, expanding its portfolio of rare-disease treatments, the companies announced Tuesday.

Under the terms of the deal, Apellis shareholders will receive $41 per share in cash, representing a roughly 140% premium over the stock’s last closing price, News.Az reports, citing CNBC.

Shareholders may also receive two additional payments of $2 per share each, contingent on certain global sales milestones for Apellis’ eye disorder drug Syfovre.

Following the announcement, Apellis shares rose more than twofold in premarket trading.

News.Az 

By Nijat Babayev