Biogen faces increased 'pressure' after AveXis buyout by Novartis

Novartis AG's NVS, +0.80% deal to buy AveXis Inc. AVXS, +80.37% "increases pressure" on Biogen Inc. BIIB, -2.77% given that Biogen's Spinraza, a spinal muscular atrophy (SMA) therapy, competes with AveXis's AVXS-101 gene therapy.