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American multinational Biogen Inc Shares Crashed

Biogen Inc. Shares slipped 0.12% to $267.15 Tuesday. This proved to be an all-around mixed trading session for the stock market, with the Dow Jones Industrial Average DJIA rising 0.13% to 34,575.31 and the S&P 500 Index SPX falling 0.05% to 4,202.04.

Biogen Inc. closed $96.77 below its 52-week high ($363.92), which the company reached on November 4th. Despite its losses, the stock outperformed some of its competitors Tuesday, as Johnson & Johnson JNJ fell 2.20% to $165.53, Pfizer Inc. PFE fell 0.59% to $38.50, and AbbVie Inc. ABBV fell 0.87% to $112.21.true Trading volume (1.2 M) eclipsed its 50-day average volume of 958,883.

Biogen Inc and Ginkgo Bioworks today announced a gene therapy collaboration. Together, the companies aim to redefine the industry standard for manufacturing recombinant adeno-associated virus-based vectors.Recombinant AAV-based vectors are widely used to develop innovative gene therapies and have the potential to treat certain neurological and neuromuscular diseases as well as other conditions across multiple therapeutic areas.

Manufacturing is time-consuming and expensive making it difficult to develop therapies for diseases with high dose needs and with large patient populations. Ginkgo seeks to solve these challenges by applying its mammalian cell programming platform, to improve the efficiency of AAV-producing plasmid vectors and cell lines, which could accelerate Biogen’s development of novel gene therapies.

Biogen Inc discovers, develops and delivers worldwide innovative therapies for people living with serious neurological and neurodegenerative diseases as well as related therapeutic adjacencies. This has introduced the first approved treatment for spinal muscular atrophy, commercializes biosimilars of advanced biologics and is focused on advancing research programs in multiple sclerosis and neuroimmunology, Alzheimer’s disease and dementia, neuromuscular disorders, movement disorders, ophthalmology, neuropsychiatry, immunology, acute neurology and neuropathic pain.

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