Biogen Sells Psoriasis Treatment Amevive In A Restructuring Move

Biogen said it will continue to manufacture Amevive, a biologic anti-inflammatory compound, and supply it to Astellas. Biogen added it expects the transaction to close as early as mid-April. Biotech company Biogen Idec Inc. said Monday it agreed to sell the worldwide rights of Amevive, a psoriasis treatment, to the U.S. arm of Japanese drug maker Astellas Pharma Inc., for $60 million.
A Biogen spokesman said the deal also includes undisclosed royalty payments.
Biogen said it will continue to manufacture Amevive, a biologic anti-inflammatory compound, and supply it to Astellas. Biogen added it expects the transaction to close as early as mid-April.