Biogen Inc. is snapping up global rights to Alkermes plc's phase III ALKS-8700, a prodrug of the active metabolite in Tecfidera (dimethyl fumarate), for $28 million up front, potential milestone payments of up to $200 million, and royalties. The experimental multiple sclerosis (MS) drug is expected to be the subject of a 505(b)(2) application in 2018 and may offer more favorable gastrointestinal (GI) tolerability than Tecfidera.