In the premarket on Thursday, Biogen shares fell 6% as Samsung Biologics denied media claims that it was buying the American biotech company.

Biogen had approached Samsung to buy its shares, which might be worth more than $42 billion, according to the Korea Economic Daily on Wednesday. On the news, Biogen stock jumped 9.5 %, valuing the company at about $38 billion by the end of the day.

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In a regulatory statement, Samsung Group's biotech unit stated that the report was "not true"

Any such agreement would likely surpass Samsung Electronics' billion acquisition of auto electronics maker Harman International Industries in 2016.

Biogen virtually lowered the price of its Alzheimer's medicine aduhelm to $28,200 per year for a person of average weight earlier this month.

Because of the high expense of treatment, sales have been reluctant to take off. Many hospitals have turned down the treatment.

On June 7, aduhelm became the first medicine in 18 years to be approved by the US Food and Drug Administration for the treatment of neurodegenerative disease patients.

According to the business, around 50,000 individuals could begin therapy with aduhelm in 2022 if insurance coverage and access to diagnostics and specialized centers are improved.