RTTNews | Dec 30, 2021 10:29AM EST

10:28 Thursday, December 30, 2021 (RTTNews.com) - Shares of Boston-based drugmaker Biogen Inc. (BIIB) are down more than 7 percent on Thursday's trading after Samsung BioLogics denied news reports that it was discussing takeover plans with Biogen, which would value the drugmaker at around $42 billon.

Biogen shares were up around 10 percent earlier during the day on news published in the Korea Economic Daily that Samsung BioLogics was planning to take over the company. The report also noted ties between the two groups including FDA approval of key treatments, as well as Biogen's 50 percent stake in biosimilars unit Samsung Bioepis Co.

Currently at $238.42, the stock had traded between $221.72 and $468.55 during the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3252100/biogen-shares-slump-7-after-samsung-group-denies-reports-of-takeover.aspx)

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