Apellis surges on $5.6B buyout deal with Biogen

Biogen has agreed to acquire Apellis Pharmaceuticals in a deal valued at approximately $5.6 billion. The announcement sent Apellis's stock price surging following the news. This acquisition is expected to significantly enhance Biogen's drug pipeline, particularly in areas of rare diseases. The transaction underscores the ongoing consolidation trend within the pharmaceutical industry as companies seek to expand their therapeutic portfolios and market reach.