Biogen Pays $850m for China Felzartamab Rights; New Drugs Offset MS Declines
Biogen agreed to pay up to $850m for exclusive Greater China rights to anti-CD38 felzartamab, gaining BLA control for relapsed myeloma and targeting a projected 14.6% of China’s $458m MM market by 2029. New Skyclarys and Zurzuvae launches aim to offset MS franchise declines.
1. Felzartamab China Deal
Biogen has secured exclusive Greater China rights to felzartamab for up to $850m, gaining BLA control for relapsed and refractory multiple myeloma and leveraging TJ Biopharma’s local manufacturing. If approved, the drug’s 1.5-hour infusion and domestic sourcing could help it capture an estimated 14.6% of China’s $458m MM market by 2029.
2. Q1 Outlook and MS Portfolio
Biogen’s Q1 outlook is supported by new launches Skyclarys and Zurzuvae, which are expected to drive growth as the legacy multiple sclerosis franchise faces increasing competition and pricing pressures. These launches aim to mitigate declines in MS revenues and diversify Biogen’s product portfolio in 2026.