Should Celgene (CELG) buy Biogen (BIIB) ? The Street's Adam Feuerstein thinks so, and offered several reasons why the deal makes sense.
Feuerstein said Celegene would benefit from Biogen's multiple sclerosis drug franchise, and would also get a head start on drugs for neurodegenerative diseases. Acquiring Biogen would also give Celgene the orphan drug Spinraza, as well access to Biogen's development of biologics.
Feuerstein believes a deal between the two would be transformative, and puts the potential deal value at $75 billion to $85 billion.
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Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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