BRIEF—Samsung BioLogics says Biogen acquisition rumors untrue

There was a flurry of activity in US biotech Biogen stock since yesterday, after the Korea Economic Daily reported on Wednesday that local firm Samsung BioLogics had been approached by the US firm to buy its shares, in a deal which could be valued at more than $42 billion.

Biogen is currently valued at $34.67 billion, according to Refinitiv data.

Biogen shares rose 10% yesterday buy fell back sharply today after Samsung BioLogics announced in a brief stock exchange filing that the reports were untrue.

For its part, Biogen said it does not comment on rumors.