FDA OKs Biogen’s Vumerity for relapsing forms of MS

The FDA approves Biogen’s (NASDAQ:BIIB) Vumerity (diroximel fumarate) for the treatment of relapsing forms of multiple sclerosis (MS), including clinically isolated syndrome, relapsing-remitting disease and active secondary progressive disease.

The company in-licensed exclusive global rights to the oral small molecule from collaboration partner Alkermes plc (NASDAQ:ALKS) about two years ago. The FDA nod triggers a $150M milestone payment to Alkermes. It will also receive mid-teens royalties on net sales.

https://seekingalpha.com/news/3511381-fda-oks-biogens-vumerity-relapsing-forms-ms-shares-2-percent-premarket