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Biogen shares slump after Samsung Biologics denial of buyout report

Biogen shares slump after Samsung Biologics denial of buyout report

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Biogen BIIB, +9.46% shares slumped 5% in early premarket action after Samsung Biologics 207940, +1.46% called a media report it was about to buy the U.S. company “not true.” The brief statement didn’t elaborate on what was inaccurate about the Korean Economic Daily report which said Biogen could be purchased for about $42 billion, which boosted the Alzheimer drug maker stock by 9% on Wednesday.

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