© Reuters. PHOTOGRAPHY: Sign marks Biogen plant in Cambridge, Massachusetts, USA, January 26, 2017. REUTERS / Brian Snyder / File Photo
(Reuters) – Biogen Inc. (NASDAQ 🙂 is working with investment bank Goldman Sachs (NYSE 🙂 to find potential targets for acquisitions, Stat News reported on Thursday, citing an unnamed source.
The report says the company’s management has warmed to the idea of acquisitions amid turmoil over its controversial cure for Alzheimer’s disease, Aduhelm.
Biogen did not immediately respond to Reuters’ request for comment.
On Tuesday, the U.S. Centers for Medicaid and Medicare Services (CMS) said it would cover Aduhelm and similar treatments only for patients enrolled in approved clinical trials, threatening to sell the drug.
In a conference call with analysts on Thursday, Biogen CEO Michel Vounatsos said management was working with the board on “tactical, short-term measures, but also strategic options”.
Vounatsos responded to a question about whether the company would consider any strategic options to protect shareholder value, especially in light of the controversy over Aduhelm.
Aduhelm was approved by the U.S. Food and Drug Administration in June despite a vote by the agency’s external advisers that the clinical benefits of the treatment had not been proven.
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