Biogen pays $75M upfront to Pfizer for a schizophrenia drug

Biogen has agreed to acquire a schizophrenia drug candidate from New York-based pharmaceutical giant Pfizer Inc. The purchase allows Cambridge-based Biogen (Nasdaq: BIIB) to develop a new treatment for cognitive impairment. “When cognition is impaired, you lose the ability to make sense of the world," said Michael Ehlers, executive vice president, Research& Development at Biogen. "Things we often take for granted in our daily lives, including processing information, planning and remembering, …
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news