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Biogen Gains China Felzartamab Rights As Valuation Gap Draws Attention
Biogen has secured exclusive rights for felzartamab in Greater China from TJ Biopharma, consolidating global rights for the antibody currently in Phase 3 trials for immune-mediated diseases. This strategic move strengthens Biogen’s immunology pipeline and expands its presence in the significant Chinese pharmaceutical market, particularly for conditions like IgA nephropathy and primary membranous nephropathy. The company’s shares are currently trading below analyst targets and Simply Wall St’s fair value estimate, suggesting a potential valuation gap.