Biogen to spin off hemophilia business

Biogen will spin off its hemophilia business to shareholders as an independent, publicly traded company and focus its efforts on developing drugs for neurodegenerative diseases. The new company, as yet unnamed, will pursue discovery and development of therapies for the treatment of hemophilia and market Biogen’s two existing drugs in that category, Eloctate and Alprolix, treatments for hemophilia A and hemophilia B, respectively. These two hemophilia drugs had $640 million in combined revenues during the 12-month period that ended on March 31. John G. Cox, Biogen’s current executive vice president of pharmaceutical operations and technology, will serve as CEO of the new company, which will be located in the Boston area. The spin-off is expected to be completed by early next year.