In order to mitigate the threat to its multiple sclerosis (MS) franchise, Biogen has in-licensed Alkermes’ ALKS-8700; a drug which was developed to match the efficacy and have an improved safety profile compared with Biogen’s Tecfidera® (dimethyl fumarate). The deal, worth up to US$228 M, included an upfront payment of US$28 M and another US$200 M in potential clinical and regulatory milestones. Though the financials are relatively modest for a late stage asset, the deal, for Biogen, removes a potential competitor to its leading MS drug.