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Top 20 Immunology Companies of 2026 

Shots:  AbbVie led the global immunology market with $30.4B in immunology revenue in 2025, followed by Sanofi ($19.08B) and Johnson & Johnson ($15.72B). Continued demand for biologics and targeted therapies across autoimmune and inflammatory diseases supported strong commercial performance among leading companies.   The global immunology market, valued at $108.4B in 2024, is projected to…

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Eisai and Biogen Report EU Launch of Leqembi (Lecanemab) to Treat Alzheimer’s Disease

Eisai and Biogen Report US FDA Approval of Leqembi Iqlik as an Initiation Dose for Early Alzheimer’s Disease

Shots: The US FDA has approved an sBLA for Leqembi Iqlik (lecanemab‑irmb, SC) as an initiation dose administered as 500mg given QW as two 250mg injections, each delivered in ~15secs for the treatment of early Alzheimer's disease Approval was supported by clinical data across multiple studies, with Clarity AD LTE sub-studies showing QW SC Leqembi…

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Biogen to Acquire RayThera for ~$1B

Shots: Biogen has entered into a definitive agreement to acquire RayThera, expanding its immunology pipeline As per the deal, Biogen will acquire RayThera for ~$1B, incl. an upfront payment & clinical and regulatory milestone payments; closing is expected in Q3’26 Following closing, Biogen will lead development, manufacturing & global commercialization of RayThera’s assets, incl. the…

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Top 20 Biopharma Deal Terminations of 2025

Top 20 Biopharma Deal Terminations of 2025 

Shots:  Biopharma dealmaking in 2025 continued to face significant headwinds, with collaborations frequently collapsing due to strategic reprioritization, fierce competitive pressures, unfavorable clinical readouts, and failure to meet key closing conditions highlighting the inherent uncertainty and capital risk embedded in innovation-driven partnerships   The year underscored a clear dominance of R&D-focused collaborations and licensing agreements,…

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Biogen Collaborates with Alloy Therapeutics to Advance Antisense Therapeutics

Shots: Alloy Therapeutics has entered into a collaboration & license agreement with Biogen to advance antisense therapeutics against multiple undisclosed targets using Alloy’s AntiClastic ASO Platform As per the deal, Alloy will receive an upfront payment, along with additional milestone payments & tiered royalties on any products resulting from the collaboration The AntiClastic ASO platform…

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Apellis

Biogen to Acquire Apellis Pharmaceuticals for ~$5.6B

Shots: Biogen to acquire Apellis, incl. its assets Empaveli, Syfovre & felzartamab, for $41/share plus a non-transferable CVR, representing an upfront equity consideration of ~$5.6B, with remaining shares acquired later via a second-step merger CVR holders will receive $2/CVR if Syfovre achieves $1.5B sales (2027-2030), an additional $2 if it reaches $2B in the same…

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Biogen and Alteogen Partner for ALT-B4 to Advance Subcutaneous Formulations of Biologics

Shots: Alteogen has granted Biogen exclusive rights to ALT-B4 (berahyaluronidase alfa) to develop & commercialize SC formulations of two biologics, with an option for Biogen to develop a third product As per the deal, Alteogen will receive $20M upfront, $10M upon initiation of second product development, along with ~$549M in development, regulatory, & sales milestones…

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Eisai and Biogen Report EU Launch of Leqembi (Lecanemab) to Treat Alzheimer’s Disease

Eisai and Biogen Seek Japanese PMDA Approval for Leqembi SC (Lecanemab) to Treat Early Alzheimer’s Disease

Shots: The Japanese PMDA has received NDA for Leqembi SC autoinjector to treat adults with early Alzheimer’s disease (AD) NDA is supported by sub-studies from the P-III (Clarity AD) OLE study in pts with mild cognitive impairment due to AD or mild AD dementia, showing that Leqembi (500mg, SC: two 250mg injections) administered QW, provided exposure equivalent to Q2W IV…

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